Yahoo Finance With Influx Of Millionaires Into Florida, Guess How Much Some Housekeepers Are Making?
Among Florida’s 140 million visitors in 2023 were also 365,205 new residents. That’s the second-highest population growth in the country, trailing only Texas.
It’s a well-known fact that people are moving to Florida because it has low taxes, great weather, and a lower cost of living compared to places like New York. The pandemic has also changed how we work, so now it’s easier for people to move and keep their jobs. These reasons make Florida a top choice for millionaires and regular families seeking a better life.
Jeff Bezos and other rich people, for example, are buying up luxury homes in Miami’s "Billionaire Bunker," but it's not just them. Census data from 2022 shows that over 91,000 people from New York moved to Florida. Even with fewer people leaving, Texas still saw more than 32,000 residents move to Florida.
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The influx of millionaires into Florida has created a booming demand for high-quality staff. This means housekeepers are now making significant salaries, with some earning up to $150,000 and one reportedly making $250,000, including overtime.
"I have been placing staff for 30 years, and I’ve never seen anything like this," the founder of a Florida staffing agency told CNBC. "For housekeepers, it’s wonderful. For us, it’s extremely difficult. There's a severe shortage."
The high cost of living and the competitive nature of the job market mean that experienced and highly skilled people are in a strong position to negotiate.
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The demand for household staff in Palm Beach and other elite places is especially high. There’s a shortage of nannies, butlers, housekeepers, drivers, chefs, and other supporting staff, so housekeepers can now charge $45, $50, or even more per hour in these areas. The elite household staff, the cream of the crop, can now demand yearly salaries ranging from $100,000 to $150,000.
However, this top-paying staff typically has years, sometimes decades, of experience. They know how to properly handle expensive art, antiques, and clothing, among other items. One of their most important skills is being discreet or even almost invisible.
Naturally, wealthy newcomers to Florida are shocked when they first "see" the price stickers. The agency owner shares that their wealthy clients initially say, ‘No way I’m paying that.
Another agency owner shared with CNBC that their client hoped to pay up to $75,000 annually. However, they had to pay $110,000. According to the agency owner, even that was basically a steal.
The influx of new residents, especially those with a lot of money, keeps the local economy strong. As the demand for luxury services rises, Florida’s job market changes. This isn’t only affecting the wealthy; it’s also creating significant opportunities for people working in service jobs. For housekeepers and other household staff, this means there’s still a high demand for their services and a chance to earn even more.
With this trend showing no signs of slowing, Florida’s economy and society are poised for significant changes in the coming years.
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