New Data on Tech Exodus to Miami
Twitter gives voice to many, and Miami mayor Francis Suarez’s simple “How can I help?” has spawned a massive flood of interest in the idea of techies moving to sunny South Florida. With all the talk, we wondered what are the actual numbers of people making the move versus those who are just toying with the idea via twitterpated flirting.
That’s where moveBuddha has come to the rescue with the latest data. With moving stats at their fingertips and more in-depth analysis into what’s happening on Twitter, they’ve brought to light some impressive numbers that can help us shed light on the Miami migration.
Here we’ve highlighted the top 3 stats that caught our eye. If interested in the deep dive, check out moveBuddha’s full trend report: Is Miami the Next Silicon Valley? New Study Reveals Surprising Trends.
42,666 Tweets Analyzed: 129% Increase in Miami Mentions
We know that what gets said on Twitter doesn’t necessarily predict the future or even mean it’s true. However, the influence of Twitter is powerful.
That being said, the conversation around those leaving the “Bay Area” or San Francisco or Silicon Valley and suggesting moving South has become increasingly popular in the last year.
So, when mayor Francis Suarez entered the Twitter conversation in December 2020, the increase in interest around specifically moving to Miami erupted.
Scraping 42,666 Tweets from December 2019 until January 2021, moveBuddha found that the phrases “move to miami”, “moved to miami”, and “moving to miami” increased 129% in December 2020 and January 2021.
While Tweets alone are not enough evidence to declare that a full-blown Silicon Valley to Miami migration is in the future, often social signs and indicators can influence moving decisions.
If the tech community is actively communicating the opportunity available in Miami and spreading the message across social platforms, that idea becomes rooted in the psyche. For those interested in moving or considering a move, now the idea of going to Miami is more of an option.
Miami Inbound vs. Outbound Moves: 40% Increase
What we do know about actual moves is that there has been a significant uptick in the number of moves to Miami in 2020.
MoveBuddha helped with 40% more moves into Miami than out of the city this past year (2020).
What’s even more interesting, there was a significant spike at year-end in inbound moves following the growing popularity of the topic of moving to Miami.
Who is Actually Moving to Miami?
Okay, so there has definitely been an increased interest in moving TO Miami vs. moving OUT of Miami.
However, where are the new city residents coming from?
Are they actually coming from Silicon Valley?
While New York City is the clear #1 source of new Miami residents, San Francisco and Los Angeles come in next.
Nearly 11% of all Miami-bound moves relocated from San Francisco.
Is Miami the Next Silicon Valley?
Miami is in a state that has dramatically different taxes and living costs, so there is an absolute benefit to relocating from expensive cities to the coastal paradise.
Plus, Miami has a relationship with Latin America that attracts a different global economy and shared time zones with many South American countries.
Considering the data from moveBuddha, it’s clear people are moving to Miami. And it’s clear that a number of them are from the Bay Area.
In reality, we are just at the beginning of this story. And it doesn’t look like the conversation is slowing down.
Looking Forward to Miami in 2021
With the current pandemic and the influence it has had on the nation as a whole, we have seen an upward trend in moves to Miami and other Southern states.
For Miami specifically, we can’t be sure whether it’s the affordability, the long summers, or the increasing interest in Miami’s startup and tech scene. It isn’t yet clear.
What we can do for now is observe what happens in real estate, look at who is buying houses, and continue to monitor the migration into the Magic City.