Hurricane Weary Floridians (Part Two)
Previously, we began discussing how vulnerable Florida is to hurricane impacts and what people are doing about it. We went over how Tallahassee, Lake City, and Ocala are among the lowest risk in the state, but Ocala is particularly popular with many Floridians moving there due to that lower risk along with a lower cost of living. In this second part, we will continue discussing these trends and the people who live and move there.
Ocala has a rich history, especially for those interested in equestrian sports. With the county once being a citrus production center, it became known for thoroughbred horse farms in the 50’s. With plenty of land and attractions, it brings many Floridians there. In terms of hurricane coverage, while the average Florida insurance premium has tripled these past five years, Ocala remains relatively consistent. With the average premium being $1894 a year in Ocala compared to $5665 in Miami Dade and $7584 in the Keys.
Of course with this, real estate has been increasing, with the median price for a luxury home increasing 18% so far, particularly among land and properties close to the World Equestrian Center. Despite that, average sale costs remain lower compared to other areas in Florida such as Boca Raton or Tampa.
We hope you found this first part on hurricane impacts in Florida and how that affects the people living there to be insightful! At AJS, we are committed to serving the Gulf Coast and beyond in moving, building, and leveling and we are here to help you and your properties. For lifting, construction, or moving, give us a call today to schedule a free consultation!