Florida is about to get a lot more traffic…
According to a new report from the Demographic Estimating Conference, Florida should braces itself for a significant uptick in new residents.
The report said the population is expected to increase by an average of around 303,000 residents a year between April 1, 2020, through April 1, 2025.
Analysts believe that an estimated 21.89 million people will be living in the state by April 1, 2021, and will grow to 23.1 million by April 1, 2025. That’s a daily increase of 831 people per day.
“These increases are analogous to adding a city slightly larger than Orlando every year,” said an executive summary of the report.
The executive summary goes on to say that the DEC’s estimates are still significantly less than what the U.S. Census Bureau has projected, “Of note, the population estimates developed by the U.S. Census Bureau continue to be higher than the official state estimates adopted by the Demographic Estimating Conference. In the latest comparable set of estimates (July 1, 2019), the difference was 170,853 persons.”
Conversely, during the same period, housing developments are only expected to go up roughly 6 percent, equating to 522,909 new units.
But according to the report, due to the economic impact of the pandemic in the future and its impact on household dynamics, the average household size was held relatively constant in the near future.
Attached below you will find the full data from the study:
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