WEST PALM BEACH, Fla. — The rising cost of living in Florida has many residents considering a move out of the Sunshine State, according to a new report.

A report titled “Florida on the brink” was compiled by the data tech firm Cotality, and it describes a state under stress.

WATCH BELOW: Report outlines why Florida residents leaving for other states

Here’s why Florida residents are ‘looking to escape’

“The promise of sunshine and opportunity has been replaced by something a little less sunny — rising home prices, diminishing affordability, and growing pressure on infrastructure,” the report said.

There is a pipeline of Florida residents fleeing to more affordable southern states like Georgia, South Carolina, North Carolina, Tennessee and Texas.

“What we saw in Florida, after a period of very strong immigration to Florida, there is now a little bit less inbound, a bit more outbound migration,” Selma Happ, the chief economist at Cotality, said. “A lot of people who are migrating from Florida are going to neighboring states.”

The report cited billion-dollar hurricanes and costs soaring so high, especially in South Florida, that the state is heading down a path similar to California’s population drain.

Insurance remains a big drag on finances even as the state tries to slow down a coverage crisis.

“You have rising insurance, you have rising property taxes, so they can no longer sustain that home, and then they decide to leave for the areas more affordable and maybe where insurance costs are a little bit less,” Happ said.

But even with the exodus, Florida is still attracting new residents.

The report raised the question of whether there is a way to turn around the pressures the state and its residents are facing.

“Florida — a state once synonymous with getting away — is starting to see signs of people looking to escape,” the report said.

JACKSONVILLE, Fla. – As Florida’s legislative session enters its final week, lawmakers are racing against the clock to address several key issues before the May 2 deadline.

Among the most pressing concerns is the state budget, which must be finalized to ensure the fiscal year begins smoothly on July 1. However, it looks like the legislature may not complete its work on time.

Chris Hand, an expert on state government, notes, “Increasing signs suggest the legislature is not going to finish its work on May 2.”

He explains that the House and Senate have encountered challenges in reconciling their different appropriations bills. If they fail to reach an agreement by the deadline, lawmakers may need to extend the session or return for special sessions, with the ultimate budget deadline set for June 30.

State law demands a cooling-off period. Hand confirms that lawmakers typically have about three days to review proposals before voting. He warns that missing earlier deadlines could jeopardize the timely completion of the session. “The chances of finishing on time and having that handkerchief drop to what they call signing day become increasingly less likely,” he adds.

The complexities of the budget process are compounded by differing priorities within the legislature. Hand explains that the governor presents a budget proposal, but both the House and Senate develop their own versions before attempting to reconcile their differences. “Sometimes that’s easier than others,” he admits, noting that revenue challenges can complicate negotiations.

As the session progresses, the tension between the executive and legislative branches is palpable. Hand observes, “It is more the norm than the exception for the executive branch and the legislative branch to have different and very strong feelings about what a budget should look like.” This year, however, the dynamics have shifted as the legislature reasserts its authority, particularly as Gov. Ron DeSantis approaches the end of his second term.

The current climate reflects a departure from the alignment seen during the early years of DeSantis’s administration. Hand recalls how, in the past, the governor was able to achieve most of his priorities during the session. Now, as the legislature prioritizes its institutional prerogatives, the path to a finalized budget appears increasingly challenging.

“This is no different than what’s happened in every governorship,” Hand states, referencing historical tensions between the executive and legislative branches. He emphasizes that while the current situation may seem contentious, it is part of a longstanding tradition in Florida politics.

As the May 2 deadline approaches, the pressure mounts for lawmakers to resolve their differences and deliver a budget that meets the needs of Floridians. With the clock ticking, the outcome of this legislative session remains uncertain.

MIAMI BEACH, Fla. – A Florida man caught on camera crawling into a valet key room and stealing nearly $2 million in stolen high-end vehicles last summer is now behind bars, officers said. 

The Miami Beach Police Department said Gregory Sean Yearty Jr. was arrested on four counts of grant theft in an incident that happened back in July 2024 in the Setai Hotel parking garage in Miami Beach. 

Follow FOX 13 on YouTube

Dig deeper:

Investigators said multiple vehicles were stolen from the parking garage. Surveillance footage showed the suspect low-crawling into a valet key room in the parking garage, removing several key fobs and later fleeing with four luxury cars. 

Detectives were able to identify Yearty through their investigation. The suspect later surrendered himself at Miami Beach police headquarters, according to the department.

What they’re saying:

“The increase in high-end vehicle thefts is a concerning trend nationwide, and Miami Beach is not immune,” Miamia Beach Police Chief Wayne Jones said. “Let this, and other successful apprehensions, be a clear message: if you come to Miami Beach to victimize our residents and visitors, you will be held accountable.”

WATCH FOX 13 NEWS: 

STAY CONNECTED WITH FOX 13 TAMPA: