Florida’s Rapid Growth Brings Economic Benefits to Tampa Bay Area

According to fresh data from the US Census Bureau, Florida had the fastest rate of growth in 2022. Even the Tampa Bay region is receiving many of those new inhabitants.

Although it has traditionally been a well-liked destination for tourists, more individuals now wish to make it their permanent home.

Florida has frequently been among the states that have experienced the greatest growth, according to a press release from Kristie Wilder, a demographer with the Census Bureau’s Population Division. Florida was the state with the biggest percentage gain in population for the first time since 1957.

The tweet below confirms the news:

According to census data, Pasco County will grow by 7.5% between 2020 and 2022, Manatee County by over 7%, and Sarasota County by 6%.

“While Florida has often been among the largest-gaining states,” Kristie Wilder, a demographer in the Population Division at the Census Bureau said in a release. “This was the first time since 1957 that Florida has been the state with the largest percent increase in population.

The regional economy benefits from that growth as well.

Our property values have increased significantly over the past five years and are currently at their highest point ever, according to Tresidder. “That’s all, you know, income to go to the service industries,” he added.

Realtors believe that despite other markets slowing down, those values will continue to be high.

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