By Gay Cororaton, MIAMI REALTORS Chief Economist
There are various data sources that track migration, and while all these sources are excellent and reliable sources for understanding flows, there are limitations to these data. Public data sources such as the US Census Bureau’s American Community Survey and the Internal Revenue Service[1] migration flows data are the gold standard when it comes to accuracy and reliability, but these data are released with a one-to-two-year lag. Administrative data such as the driver license exchanges data is very timely with quarterly reports released by MIAMI REALTORS®, but one drawback is the driver license exchanges only capture out-of-state migration and not inter-count or inter-zip code level migration[2].
To supplement these migration data, MIAMI Realtors® partnered with CENSAI, a company with a database of 270 million adult consumers with address histories going back to 2018. The consumer database is matched with data sources like the National Change of Address (NCOA), geospatial data, and US Census data, and other third-party proprietary data that enable it to provide estimates of migration flows at the zip code level. (see Real Estate Data Analytics for Real Estate Investors | CENSAI)
Using CENSAI data on domestic (within US) migration flows, here are the top 10 zip codes with the highest number of people who moved into the area. Of the 10 zip codes, three each were in St. Lucie County, Broward, County, and Palm Beach County, and one was in Miami-Dade County.
A running theme is the high-correlation of the income of movers to home prices: low-price-tier markets tend to attract low-to-middle income households with incomes of less than $100,000 while high-price tier markets have a higher share of movers earning over $100,000.
Download the 2024 Q4 Southeast Florida Zip Code In-Migration Report HERE.
- 34987, Port St. Lucie in St. Lucie County
Zip code 34987 was the top zip code with the largest in-migration in St. Lucie County, accounting for 21% of in-migration flows from other US zip codes in Florida and out-of-state to the county. It was also the top zip code in St. Lucie County in terms of the number of adults who moved with at least $100,000 in income. Of total movers into this zip code, 44% had an income of at least $100,000. Of the total movers, 43% were 55 years old and over. This is an affordable area. The median single-family sales price in 2024 Q4 was $445,000 and the median condo/townhome sales price was $305,995.
- 34953, Port St. Lucie in St. Lucie County
Zip code 34953 was the second top zip code with the largest in-migration flows into St. Lucie County and accounted for 19% of the county’s in-migration flows. It was also the second top zip code where movers had at least $100,000 in income. Of total movers to this zip code, 21% earned over $100,000. The largest age group moving in are the 30-44 years old, which made up 35% of movers. This is an affordable area. The median single-family sales price in 2024 Q4 was $420,000 and the median condo/townhome sales price was $230,000.
- 33025, Hollywood in Broward County
Zip code 33025 was the top zip code with the largest in-migration flows into Broward County and accounted for 4% of the county’s in-migration flows. Of total movers, 61% had incomes of at most $75,000. The largest age group moving in are the 30-44 years old, which made up 37% of movers. This area is a mid-price tier area. The median single-family sales price in 2024 Q4 was $515,000 and the median condo/townhome sales price was $306,500.
- 33324, Fort Lauderdale in Broward County
Zip code 33324 had the second largest migration flows in Broward County, accounting for about 4% of migration flows. Of total movers, 35% had incomes of at least $100,000. The largest demographic moving in are the 30-44 years old which account for 34% of movers. This is a pricey area, so it is most likely that those who are moving into the area will tend to rent. The median single-family home price in 2024 Q4 was $712,500 and the median condo/townhome price was $320,000.
- 33411, West Palm Beach in Palm Beach County
Zip code 33411 was the top destination for movers in Palm Beach County, accounting for about 4% of migration flows. Of total movers, 36% had incomes of at least $100,000. The largest demographic moving in are the 30-44 years old which account for 33% of movers. This is a mid-price tier area, which can still be affordable for buyers with an income of over $100,000. The median single-family home price in 2024 Q4 was $550,000 and the median condo/townhome price was $262,000.
- 33467, Lake Worth in Palm Beach County
Zip code 33467 was the second favored destination for movers in Palm Beach County, accounting for also about 4% of migration flows. Of total movers, 40% had incomes of at least $100,000. The largest demographic moving in are the 30-44 years old which account for 30% of movers followed by the 65+ years old that account for 25% of movers. This is a mid-price tier area, which can still be affordable for buyers with an income of over $100,000. The median single-family home price in 2024 Q4 was $550,000 and the median condo/townhome price was $262,000.
- 33311, Fort Lauderdale in Broward County
Zip code 33311 had the third largest in-migration flows in Broward County, accounting for about 4% of migration flows. Movers are mostly low- to middle-income, with only 13% having income of over $100,000. The largest demographic moving in are the 30-44 years old which account for 34% of movers. This is a low-price tier area, making it affordable for lower-income movers. The median single-family home price in 2024 Q4 was $410,000 and the median condo/townhome price was $270,000.
- 33470, Loxahatchee in Palm Beach County
Zip code 3340 is the third largest destination for people moving from a US zip code into Palm Beach County, accounting for about 4% of migration flows. This is an area that attracts high-income movers, with 48% of movers having incomes of over $100,000. The largest demographic age group is the 30-44 years old, and they could be employed in higher-wage industries like finance or tech-related industries. This is a high price tier market, so a larger fraction of movers is higher income. In 2024 Q4, the median single-family sales price was $670,000 while the median condo/townhome sales price was $567,240.
- 33032, Homestead in Miami-Dade County
Zip code 33032 is the top destination for movers in Miami-Dade County, although it accounts for just 3% of the total domestic in-migration into Miami-Dade County. The people moving into this area are low to middle-income, with just 16% of movers having an income of $100,000 or more. This is because home prices in this area are affordable although this is becoming a mid-price market. In 2024 Q4, the median single-family sales price in this zip code was $520,000 while the median condo/townhome sales price was $455,000.
- 34952, Port St. Lucie in St. Lucie County
Zip code 34952 is the third top destination for domestic movers in St. Lucie County, accounting for 12% of total in-migration flows into the county. Of total movers into the zip code, 21% have incomes of over $100,000. The largest demographic age group moving into the area are the 30-44 years old that make up 29% of movers, followed by the 65+ years old that make up 23% of movers. This is a low-price tier market, so it tends to attract low-to-middle income people. Among the top 10 zip codes, it has the lowest median single-family sales price of $355,000 in 2024 Q4 and $173,750 for condo/townhomes.
To get the data for other zip codes, check out the data visualization at
https://public.tableau.com/shared/K4WJ2G8J3?:display_count=n&:origin=viz_share_link
[1] Migration Bolstered Southeast Florida’s Aggregate Household Income by $10 Billion in 2022 – MIAMI REALTORS®
[2] Migration to Miami-Dade Remains Higher than Pre-Pandemic – MIAMI REALTORS®
