Banker moving from Chicago- Demographics Q's (Miami, Fort Lauderdale: real estate, apartment complexes, renting)

[ChicagoBanker]

Hello all. I just wanted to say that this is a fantastic resource for learning about areas and has been a HUGE help with my job search. I will be moving to FL this summer and I have a few options for locations. Now, I am a banker/advisor for a large NY based bank, and my earning potential depends on the demographics of the area where I work. Since I am changing states, my book of business will not come along with me, which is frustrating to say the least. My father lives in Sebring, and his health is not that great, hence the move. My options are as follows. Jupiter (my leading choice) West Palm Beach, Boca Raton, and Naples. My concern when it comes to Naples is the seasonality of the residents. Last thing I need is people to keep all their money up in Connecticut and just use my bank for getting spending money. Therefore the East coast looks like more of a true rooted community. I am 30, single, no kids (so no concern for schools yet) and will be renting for my first year (to give me time to feel out the area and look at home options) Things that are important to me: Safety, Beach Access, Nature, Social opportunities. Does anyone know of good apartment complexes that they could recommend? Just an idea of the demographics of the areas would be good, as it can be as much as a 50% swing in my compensation! Thanks in advance. If anyone needs info on the Chicago Burbs, let me know..I am an expert!!

[lhwm8]

Hi Chicago Banker, I sent you a reply to your e-mail box. I moved here from the NW Chicago 'burbs two years ago. It's definitely not the Midwest here, and it has taken some getting used to.

Life is slower here than in Chicago, even slower than the Chicago Suburbs. And although we live close to the water here in WPB, the beach is not as major a part of the landscape and daily social life here as the lakefront is in Chicago. It's all very weird. Most of the beach-front property here is all quiet residential property, or hotels with restricted access. There is not a major waterfront "social life" here, with nightclubs, restaurants, condos, bookstores, shopping, etc, like you'd find in Chicago. There is more of that in Ft. Lauderdale and Miami, but not really in West Palm. There are scattered pockets, of course, but if you're looking for the Chicago city life here, you're not going to find it. That frustrated me when I first moved here, and took some adjustments. If you are a resident on Palm Beach Island, you might have water front access, but again, the Island is rather sleepy, and the residents like to keep it that way.

Further more, what was even more of a shock to me, is that there are areas with homes right on the water that are completely undesireable, run down, high crime areas. Where I come from, water-front homes are the most desireable areas, but in some neighborhoods here....it is the complete opposite.

Jupiter has a little bit more access to beaches and waterfront social life than West Palm. It is a nice area, growing, lots of shopping, younger people up there. My husband and I ruled it out because we did not want to be so far north in the county, we wanted to be more centrally located. But anywhere you live here, you're going to have to get used to driving. Everything is very spread out.

E-mail me directly if you have more questions.
Leslie

[chisoxfan]

From a former Chicagoan ... basing your decision on demographics, Boca might be your best bet (almost every major financial services firm has a presence there), but I think you could do well in the other coastal Palm Beach County communities you're considering. There's a tremendous amount of wealth (mixed in with more than a few pockets of poverty) in eastern Palm Beach County, and although the seasonal factor is there it's much less so than in Naples. One cautionary note -- the housing crisis has hit this area hard, certainly more so than Chicago. The local economy is based heavily on real estate and construction (along with tourism, which also is down) and isn't anywhere near as diverse as Chicago's.

[Native51]

Sounds like Jupiter or Palm Beach Gardens would be a good fit for you, although we do have our share of seasonal residents. I think Boca Raton, Delray Beach and Wellington are also good areas for building a client base.

Florida QuickFacts from the US Census Bureau
Use the drop down bar at the top to select each city's demographic profile....

Good luck!

[Nolefan34]

Boca Raton might be good because of its proximity to Fort Lauderdale. You'd be able to expand business into Broward County where the population is larger, but still benefit from Palm Beach County.