By Gay Cororaton, MIAMI REALTORS Chief Economist
There were more out-of-state driver license exchanges in the Southeast Florida counties of Miami-Dade, Broward, Palm Beach, and Martin during the first three quarters of 2023 compared to the same-period in 2019 even as driver license exchanges have been climbing down from the peak levels in 2021-2022. Strong job and growth[1], lower real estate taxes and homeowner costs compared to other states[2], and more remote work opportunities are factors that could account for the elevated migration into Florida since 2019. In the first three quarters of the year, the Florida Highway Safety and Motor Vehicle offices processed 323,995 driver license applications from out-of-state drivers, or about 1,200 licenses per day. By Florida law, a person with a driver’s license from another state must geta Florida driver’s license within 30 days of residency, at a local DMV office.
Download the attached report with county-level data.
Miami-Dade County: out-of-state driver license exchanges at 19% above the pre-pandemic level
In Miami-Dade County, 16,224 out-of-state and foreign driver licenses were exchanged for a Florida license in the county during 2023 Q1-Q2, up 19% from the same period in 2019. Miami-Dade continued to post a 1% gain in driver license exchanges compared to one year ago, while Broward, Palm Beach, and Martin saw year-over-year declines, although levels remain elevated compared to 2019. Miami-Dade County was the 6th largest Florida county for out-of-state driver license exchanges.
New York is Miami-Dade County’s largest feeder state, with 3,384 driver licenses exchanged during the first three quarters of 2023, still up 42% from the same period in 2019 even if down 9% from one year ago.
California is Miami-Dade’s second largest feeder state, with 2,010 driver licenses exchanges in the first three quarters of 203, up 61% compared to the level during the same period in 2019, despite the 3% decline from one year ago.
New Jersey is the third largest source of driver license exchanges, with 1,256 driver licenses exchanged, up 26% from the level during the same period in 2019 even after a 2% decline from one year ago.
Broward County: out-of-state driver license exchanges up 12% from pre-pandemic level
In Broward, 16,954 out-of-state driver’s licenses were exchanged for a Florida license during the first three quarters of the year, up 12% from the same period in 2019, although down 5% year-over-year. Broward County had the third largest Florida out-of-state driver license exchanges.
New York, New Jersey, and California are also the county’s largest states of origin of new residents. New York driver license exchanges during the first three quarters of 2023 totaled 3,743, up 25% from the same period in 2019 even if down 9% year-over-year.
New Jersey driver licenses exchange for a Florida license tallied at 1,583 in the first three quarters, still up 19% from the level in 2019 even with a 4% drop from the level one year ago.
California driver licenses exchanged in Broward during the first three quarters of the year totaled 1,373, up 32% from 2019, but down 6% year-over-year.
Palm Beach County: out-of-state driver license exchanges up 13% from pre-pandemic level
In Palm Beach County, there were 19,842 driver license exchanges during the first three quarters of the year, up 13% from the same period in 2019, although down 15% year-over-year. Palm Beach County was the second largest destination among out-of-state drivers.
New York, New Jersey, and California were the county’s largest feeder states. There were 5,022 during the first three quarters of the year, up 26% from the same period in 2019, although license exchanges were down 18% from the peak level in 2022.
New Jersey license exchanges were still up 11% at 2,380 from the level in 2019 even as licenses fell 21% from the three-quarter peak in 2021.
California driver license exchanges were up 39% in the first three quarters of the year at 1,229 , but down 18% from the three-quarter peak in 2021.
Martin County: out-of-state driver license exchanges up 5% from pre-pandemic level
In Martin County, 2,211 out-of-state driver licenses were exchanged for a Florida license, up 5% from the level during the same period in 2019, notwithstanding the 14% decline one year ago.
New York, New Jersey, and California were also the top feeder states. There were 352 New York driver license exchanges during the first three quarters of the year, up 18% from the 2019 same-period level, despite a 10% decline in the past year.
There were 131 California license exchanges during the first three quarters of the year, up 60% from the level in 2019, although down 27% from the peak level in 2022.
However, the 199 New Jersey driver license exchanges were down 1% from the level in 2019 and down 25% year-over-year.
What This Means for Realtors®
Southeast Florida continues to attract more movers from other states than prior to the pandemic. Realtors® should continue to expand your networking and social presence beyond New York, New Jersey, and California , to states like Texas, Georgia, Virginia, and Maryland, and Ohio which are also large feeder states of people moving into Southeast Florida.
Download the attached report with county-level data.
[1] South Florida’s Job and Wage Gains are Outpacing the National Trend as of 2023 Q1 – MIAMI REALTORS®
[2] Florida Homeowners Typically Spent Less on Housing Expenses than Nationally in 2022 – MIAMI REALTORS®
