Florida ranked as second-fastest growing state

Heading into 2016, Florida's population is growing, and it's growing fast.

With a population of 20 million, Florida is now ranked as the nation’s second-fastest growing state, right behind Texas.

By 2030, the state’s population is predicted to rise to 26 million, according to the Bureau of Economic and Business Research at the University of Florida.

Experts are predicting an increased demand for both land and water. The cost of buying property in the state is also expected to rise in the new year.

Many of the new residents are expected to be baby boomers entering retirement, data shows.

The demand for water could surpass the state's supply over the next decades. Florida will face a water shortfall of 1 billion gallons a day by 2030, according to the Florida Department of Environmental Protection.

While Tampa Bay is not currently at risk, the Orlando area is where experts expect the water shortage to be the biggest concern.

Politicians are pushing water supply management plans and roadway expansions, to accomadate growing traffic congestion, as some of their top priorities for the state moving forward.