The Sarasota region, which includes Sarasota and Manatee Counties, remains the largest market in Southwest Florida and continues to attract residents and businesses. Over the past five years, the region added approximately 91,000 residents, representing population growth of 10.7%, compared to the national growth rate of 3.2%.
Population growth accelerated during 2021 and 2022, supporting expansion across the industrial, multifamily, and retail sectors as demand increased for housing, services, and commercial space. The region’s population is now estimated at approximately 940,000, with in-migration continuing to contribute to economic activity.
Recent trends indicate a moderation in both population and employment growth as state-to-state migration returns to pre-pandemic norms. Over the past year, population growth measured 0.6%, below the region’s 10-year average annual growth rate of 2.1%. Office-using employment sectors remained flat over the past year, while industrial-using employment increased 1.1%, compared to its 10-year average growth rate of 3.4%. Despite this slower pace of growth, the region remains home to several established manufacturing employers, including PGT Innovations, Sun Hydraulics, and ASO, which continue to contribute to the local economy.
Healthcare remains a major economic driver in the Sarasota region. Education and health services represent the area’s second-largest employment sector, trailing only trade, transportation, and utilities. To support the needs of a growing and aging population, several hospital groups are investing tens of millions of dollars in facility expansions, including new outpatient centers and hospital upgrades.
Key Economic Indicators
Source: CoStar Sarasota Office Market Report | Q2 2026 as of 5/28/26
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