This Florida City Has Been Recognized As The State’s Fastest-shrinking City

Florida is well-known for its bright beaches, rich cultural diversity, and robust economy. The state has become one of the fastest-growing in the union as a result of drawing millions of residents from all over the country and the globe over the years. But growth and prosperity are not distributed equally throughout Florida.

Environmental problems, economic stagnation, and dwindling populations are problems that some cities and towns face. One such location is the regrettably named Florida’s fastest-shrinking city, Siesta Key, an unincorporated town in Sarasota County.

Siesta Key: What Is It?

Off the coast of Sarasota, Siesta Key is a barrier island known for its immaculate white sand beaches, crystal-clear turquoise waters, and laid-back way of life. The island has a long history that dates back to the Calusa tribe of Native Americans, who lived there long before European explorers arrived. Throughout the 20th century, Stephen King, Eugene O’Neill, John Ringling, and other writers and artists sought solace on Siesta Key.

The U.S. Census Bureau estimates that there are currently 5,570 people living on Siesta Key. The island continues to draw thousands of visitors each year who are drawn to its scenic surroundings and array of recreational opportunities.

Why is Siesta Key getting smaller?

According to the U.S. Census Bureau, Siesta Key’s population shrank by 15.2% between 2010 and 2019, making it the city in Florida with the quickest rate of population reduction. This stands in stark contrast to the state’s 12.9% overall population growth during that same time frame. The population decline of Siesta Key is caused by a number of factors, such as:

Housing Affordability: With a typical home value of $1,015,600, Siesta Key is among the most expensive places in Florida to live, compared to the state’s median of $245,100. Potential inhabitants may be deterred by these exorbitant housing expenses, while current residents may be motivated to look for more inexpensive options.
Aging Population: The median age of the population on Siesta Key is 65.6 years, which is significantly older than the state’s median age of 42.4 years. Older residents may not be replaced by younger, more varied groups when they move into assisted living facilities or pass away.
Environmental Difficulties: Increasing sea levels, coastline erosion, storm surges, and red tide events are some of the negative consequences of climate change that Siesta Key must deal with. The island’s infrastructure, natural resources, tourism sector, and the health and safety of both locals and visitors are all at risk from these environmental problems.
Restricted Economic possibilities: Due to its heavy reliance on the tourism and service industries, Siesta Key’s economy may not offer adequate work possibilities or sufficient income levels for its citizens.

What effects does the declining population of Siesta Key have?

The future of Siesta Key, as well as the state and larger region, may be significantly impacted by the island’s diminishing population. Consequences that could occur include:

Diminished Tax Income: As a result of a diminishing tax base brought on by a declining population, public services including transportation, recreation, healthcare, and education may receive less financing and of lower quality.
Diminished Property Values: A decline in housing demand could lead to a drop in property values, which would have an impact on homeowners’ and investors’ equity and wealth.
Diminished Attractiveness for Tourists: As Siesta Key’s natural and cultural resources deteriorate, travelers may choose alternative, more affordable and high-quality places to visit instead.
A declining population may make the island less resilient and less equipped to withstand natural calamities like storms, floods, and fires.

How can the population decrease in Siesta Key be stopped?

There are ways to slow down or stop Siesta Key’s population reduction, therefore it’s not inevitable:

Encouraging inexpensive Housing: Encourage developers, landlords, and homeowners to construct, renovate, and rent inexpensive apartments in order to increase the quantity and variety of housing options that can accommodate a range of income levels and preferences. Give low- and moderate-income residents tax credits, vouchers, and subsidies.
Attracting Younger and More Diverse Citizens: Promote a more inclusive and dynamic social and cultural environment by improving the standard and accessibility of health care, education, and employment opportunities. This will draw in younger and more diverse citizens.
Protecting and Improving the Environment: Put in place and uphold stringent environmental laws and guidelines, and allocate funds for environmentally friendly infrastructure including waste management, renewable energy, and water conservation.
Strengthening and Diversifying the Economy: Encourage and assist companies in industries like as technology, health care, and education, as well as draw in new ones, in order to lessen reliance on the travel and service sectors.

With a lot to offer, Siesta Key is a stunning and distinctive location. Through tackling obstacles and grasping chances, the island may stop its population decrease and ensure its survival.