Thursday, October 1, 2026
For decades, Florida has been a popular destination for many Long Islanders looking to retire, escape harsh winters and take advantage of the state's lack of an income tax.
But while the Sunshine State continues to attract buyers, the financial picture isn't as simple as it once was.
"I think people think it will be less expensive, but in reality it's not," said Douglas Elliman Realtor Karla Grasso. "Insurance, groceries and other costs are not that much different."
For many buyers, the biggest surprise is that the total cost of living in Florida has increased over the past several years.
Home prices rose sharply during the migration boom, making it harder to find the bargains that once attracted so many New Yorkers. Buyers also need to account for homeowners insurance, which has climbed dramatically in many areas because of hurricanes and rising rebuilding costs.
On top of that, homeowners association fees, special assessments and property taxes can add thousands of dollars a year to the cost of owning a home.
While Florida's lack of a state income tax remains a financial advantage, Grasso said it's important to look at the entire picture rather than focusing on one expense.
Grasso said many Long Islanders are surprised by how much everyday expenses have increased, from groceries and healthcare to utility bills driven by year-round air conditioning.
"I also think people don't realize just how hot it is down there. It's very hot, and there's no change of seasons, which I think many Long Islanders really miss," she said.
Traffic has also become heavier in many of the communities that have attracted former New Yorkers.
The financial adjustment isn't always the hardest one. Grasso said many people don't realize how much they'll miss their life on Long Island until after they've moved.
"They don't realize how much they miss old friends and family members and get-togethers," she said. "I am finding I am looking for short-term rentals for my friends to come home for longer visits and family occasions."
For grandparents especially, being farther away from children and grandchildren can become one of the biggest drawbacks of relocating.
But Florida still makes sense for many buyers, Grasso said. Higher-income residents may benefit from the state's lack of an income tax, while people who dislike cold winters may find the warmer climate worth the tradeoffs.
She also believes Florida continues to appeal to couples looking for an active, social lifestyle.
Before putting a home on the market, Grasso encourages homeowners to take a close look at their finances.
"If a family is considering moving, the financial questions they should be thinking about would be how much cash will remain available after their sale, after taxes and mortgage payoffs," she said. "Is there enough left as a nest egg?"
Taking time to understand both the financial realities and the personal tradeoffs can help families decide whether Florida is still the right place to call home, Grasso said.
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