Tampa is the #1 Relocation Destination in the US
A new report published by the Miami Herald details the reasons everybody wants to move to Tampa.
People around the country are picking up stakes at an unprecedented rate, and according to real estate investment firm Federal Capital Partners, Tampa is their #1 relocation destination.
FCT analyzed migration patterns using anonymous mobile phone data provided by analytics group Orbital Insight. Twelve of the metros in the study indicated Tampa in their top-three relocation destinations. People moving out of Detroit, Louisville and Orlando all made Tampa their top choice.
According to Matt Larriva, Vice President of Research & Data Analytics at FCP, the data shows the Sun Belt has retained its pre-COVID status as the destination of choice.
Tampa’s popularity is likely due to our warm weather and outdoor-orientation. People may also be moving up their retirement dates as a result of the pandemic. Historically low mortgage interest rate is also a significant motivator, and Florida’s tax-friendly climate has made it a perennially popular landing spot.
Larriva believes the mobile-phone methodology of Orbital Insight and FCP is more accurate than the destination data typically provided by moving companies, because it controls for people who make do-it-yourself moves. While not everyone uses a moving service, Larriva says, “Everyone has a cell phone.”
Carrie Rowland is an Accredited Buyer’s Representative,® Certified Probate Real Estate Specialist,® Military Relocation Professional,® Graduate of the Realtor Institute® and a Realtor-Associate at RE/MAX Alliance Group in South Tampa
