Surge in private jet travel fuels Florida luxury housing boom
Florida’s luxury housing market is booming, and that’s thanks in part to the popularity of private jet travel in the state.
This week, seven of the 10 most expensive home listings in the country are on Florida’s southern coasts. Spanning President-elect Donald Trump‘s Palm Beach territory to the Northeast-transplant hot spot of Naples on the Gulf side, Florida is ruling the rankings.
The market has gained more traction as more Americans have made the decision to head South (albeit, mostly at a mainly lower price range).
But South Florida has become a hub for wealthy homeowners who are looking for luxury living—and want the flexibility that the region’s multiple private airports provide.
“Warm weather and sunny beaches have made Florida a vacation and retirement destination for decades,” says Danielle Hale, chief economist of Realtor.com?. “For wealthy and higher-income households, a business-friendly climate and favorable tax environment that features no individual income tax likely add to the draw.
“While Florida, particularly South Florida, can take some time to get to if you’re driving, many major U.S. cities are within two to three hours flying time of Florida, including Boston, New York, Chicago, Dallas, and Houston if you’re flying direct.”
What’s fueling the private jet craze
In the post-COVID-19 pandemic era, those who can afford private travel have opted out of public transportation. The private jet industry saw a huge bump in 2022, though the number of flights has leveled off somewhat since then.
Much of that private jet growth was in Southern Florida, which has five of the 25 busiest private jet airports in the country.
Before the pandemic, Florida’s southern coasts already had some of the most sought-after real estate in the country, with posh estates in Naples and Palm Beach County going for hundreds of millions of dollars.
But real estate agents say that lately, private jet travel has brought even more interest to the area.?Riviera Beach, for example, is just 20 minutes from Palm Beach International Airport, and home prices there have shot up an astonishing 163% since last year.
The median home price in the Palm Beach County town is now $1.1 million.
“The region’s appeal has been amplified by the ease of access provided by private aviation, especially postpandemic, as affluent buyers prioritize privacy and flexibility,” says?James Schnars, chief marketing officer at John R. Wood Christie’s International Real Estate in Naples.
Why Southern Florida is booming
Wealthy clients are drawn to Southern Florida for the obvious reasons: the sun, the surf, and the slower pace of life. But they also expect convenience.
“Private jet access is a critically important feature of the uber-wealthy lifestyle,” says Cara Ameer, licensed agent with Coldwell Banker in California and Florida. “This clientele tends to own properties in multiple locations and travels frequently, so being able to get in and out easily is key, without the hassle of public airports.”
Wealthy clients are also less likely to be affected by rising interest rates.
“Activity is at the higher end of the market,” Mariya Letdin, a business professor at Florida State University, told the Miami Herald earlier this year. “It’s a tale of two cities within one city. The higher market is insulated from what’s going on. In the rest of the market, we’ll see decreases in prices, because interest rates are holding steady and people can’t afford to stretch their budget.”
Even the recent spate of extreme weather in the region, including Hurricanes Helene and Milton, hasn’t deterred wealthy buyers.
In 2024, South Florida saw?prices increase 9.6% year over year.
Private flying offers increased flexibility
Having the flexibility to fly when they want is a big draw for many of real estate adviser Marc Fitzgerald‘s clients.
“I have worked with multiple buyers who want to be able to fly in for the weekend and go to their condo and fly back out,” says Fitzgerald, who is with Sotheby’s International Realty. “Having the ability to drive 10 minutes from the airport to their second home is a must.”
The increase in private jet travel “reflects the increasing demand for exclusivity, convenience, and a lifestyle that offers both luxury and accessibility,” he adds.
On Florida’s southwest coast, jet-setters fly easily in and out via the all-private Naples Municipal Airport.
For proof of the growing interest in private travel, you need only look at the skyrocketing number of private jets flying into NMA. In 2021, the airport served 113,137 passengers.
The following year, that number climbed to 184,134.
At least 80% of those people visited the area because they already owned property in Collier County or they were looking to purchase property, according to the Naples Airport Authority.
Similarly, on Florida’s southeastern coast, Palm Beach International, which serves both commercial and private flights, saw a 95% increase in private travel between December 2019 and December 2022.
“The ability to fly in, tour multiple luxury listings, and return home in a single day makes Southwest Florida a top choice for high net worth individuals seeking second homes, investment properties, or permanent residences,” says Schnars.
Jet-setters love Florida’s fly-in, fly-out culture
Southeast Florida is home to multiple fly-in, fly-out airpark communities where homeowners can simply park their planes in their driveways.
The Aero Club, located in Wellington, near Palm Beach, is an airpark community where homes can be built with private plane hangars. Residents have access to a private 4,000-foot-long runway.
Nearby, in Jupiter, the Tailwinds gated community also offers fly-in opportunities with its 2,700-foot-long runway. One home there is on the market for $3.7 million, and the lucky buyer will have the option to build a custom hangar on the property.
The Wing South Airpark, a luxury housing development in Naples, offers similar amenities. Each home includes a custom hangar, and the development is built around a private runway.
