Florida has recently become one of the most expensive states in the United States, surpassing other major areas. The news enraged some Floridians, who believed that the Sunshine State should not be as unaffordable as it currently is.
As reported by The Independent, Florida is becoming increasingly expensive, and Miami is a good example of that. Miami’s cost-of-living index, which measures the prices of everyday goods and services, has rocketed 36.5% since 2019, outpacing New York’s 28.8% growth, for example.
While home prices have been steadily going up, that’s not the only reason for the increase, as “insurance, taxes, and lifestyle” were also pointed out as culprits. The reports also link the changes to the influx of wealthy Americans and foreign investors coming to Miami. Insurance rates have reportedly gone up due to the increased risk of flooding and hurricanes.
Floridians Concerned as Miami Becomes More Expensive
While commenting on the news, residents on Reddit’s r/Florida gave their own reasons for why they think it’s so expensive to live in Miami. As one user put it: “Everything is priced for rich people or people on vacation, people bring up state income taxes, as if that mattered, I’m paying more every month for normal goods and services purely due to the tourism ‘tax.’”
Someone else blamed the local Republican government: “Miami is just a microcosm of what’s happened to the entire state. DeSantis gets hailed for his crusade against taxes and for attracting millions of new residents but all that’s done is make Florida worse for the people already living here and better for the rich or old who have no stake in Florida.”
A few locals also pointed to increased migration as part of the problem: “Also, Florida is getting kind of crowded. Land is expensive. Construction is expensive. Insurance is expensive. (…) It’s not just the rich who are putting pressure on prices.”
To some folks, however, this is just a return to Florida’s roots: “‘Modern’ Florida started as a playground for the super rich, with the other residents forced to live in land and travel to resorts to serve them. (…) Now the country is speed running back to the Gilded Age.”
It remains to be seen whether Florida and the Miami metropolitan region will continue to rank among the most expensive places to live in the United States, but it’s certain that the problem has affected long-time residents, who want to see a better, less expensive future.
