{"id":146829,"date":"2023-02-13T08:08:51","date_gmt":"2023-02-13T15:08:51","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=146829"},"modified":"2024-01-19T10:57:38","modified_gmt":"2024-01-19T17:57:38","slug":"new-census-data-shows-where-americans-are-moving","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/new-census-data-shows-where-americans-are-moving","title":{"rendered":"New Census Data Shows Where Americans Are Moving\u2014And Where You Should Be Investing"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC6150050752\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">Americans are squeezed by inflation and rising housing prices in big cities. They\u2019re seeking refuge in states with warm climates, a lower cost of living, and plenty of job opportunities\u2014states like Florida, Texas, and the Carolinas. An <a href=\"https:\/\/www.nar.realtor\/blogs\/economists-outlook\/where-people-moved-in-2022\" target=\"_blank\" rel=\"noreferrer noopener\">analysis of census data<\/a> from the&nbsp;<\/span><a href=\"https:\/\/www.nar.realtor\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-preserver-spaces=\"true\">National Association of Realtors<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;(NAR) reveals which states lost residents and which made population gains in 2022. The trends clearly indicate that many Americans are moving in response to affordability concerns.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Migration Patterns Are Shifting<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">The decision to move is not an easy one, even when it becomes unaffordable to stay put. Though the pandemic provided more Americans the opportunity to&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pewresearch.org\/social-trends\/2022\/02\/16\/covid-19-pandemic-continues-to-reshape-work-in-america\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">work remotely<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;while fueling demand for more space, these conditions only resulted in a slight uptick in domestic migration, which has been declining for decades. In 2022, local migration fell to a historic low, according to&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.brookings.edu\/research\/americans-local-migration-reached-a-historic-low-in-2022-but-long-distance-moves-picked-up\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">The Brookings Institute<\/span><\/a><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The post-World War II era saw about 20% of Americans moving annually. That\u2019s because the U.S. had a younger population with more renters and more single-earner households, making it easier for families to pick up and move for a new job. By the early 2000s, migration rates had decreased to between 13% and 14%, and the Great Recession dampened migration even further.&nbsp;<\/span><\/p>\n\n\n\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/fred.stlouisfed.org\/series\/MORTGAGE30US\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Rising mortgage rates<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in the second half of 2022 made migration even less appealing. Homeowners who were able to lock in low interest rate mortgages during the pandemic homebuying boom had no incentive to migrate. And&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pewtrusts.org\/en\/research-and-analysis\/blogs\/stateline\/2022\/08\/08\/fewer-people-are-moving-as-interest-rates-rents-rise\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Pew Research<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;notes that fewer people are heading into urban areas where rents have risen rapidly, reversing the trend of urbanization.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">But while overall migration is declining, long-distance migration is picking up speed. Movement across counties picked up in 2021-2022, as did migration between states. Longer-distance moves may partly be reflective of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.uschamber.com\/workforce\/understanding-americas-labor-shortage\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">trends<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in forced early retirement and voluntary job-quitting trends that grew prevalent during this time, as people took advantage of these transitions to find better jobs or more affordable housing in other states.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Where Are People Moving?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">The six states that brought in the most population growth in 2022 were Florida (+1.9%), Texas (+1.6%), North Carolina (+1.3%), South Carolina (+1.7%), Tennessee (+1.2%), and Georgia (+1.2%). Arizona, Idaho, Alabama, Oklahoma, and Nevada were also high on the list for inbound migration.&nbsp;<\/span><\/p>\n\n\n<div class=\"tableauPlaceholder\" id=\"viz1676300142647\" style=\"position: relative\"><noscript><a href=\"https:\/\/www.nar.realtor\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" alt=\"Dashboard 3 \" src=\"https:\/\/public.tableau.com\/static\/images\/Mi\/Migration_Trends_2022\/Dashboard3\/1_rss.png\" style=\"border: none\" title=\"\"><\/a><\/noscript><object class=\"tableauViz\" style=\"display:none;\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\"\/><param name=\"embed_code_version\" value=\"3\"\/><param name=\"site_root\" value=\"\"\/><param name=\"name\" value=\"Migration_Trends_2022\/Dashboard3\"\/><param name=\"tabs\" value=\"no\"\/><param name=\"toolbar\" value=\"yes\"\/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Mi\/Migration_Trends_2022\/Dashboard3\/1.png\"\/><param name=\"animate_transition\" value=\"yes\"\/><param name=\"display_static_image\" value=\"yes\"\/><param name=\"display_spinner\" value=\"yes\"\/><param name=\"display_overlay\" value=\"yes\"\/><param name=\"display_count\" value=\"yes\"\/><param name=\"language\" value=\"en-US\"\/><\/object><\/div>\n<p>                <script type=\"text\/javascript\">                    var divElement = document.getElementById('viz1676300142647');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='400px';vizElement.style.height='1327px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='400px';vizElement.style.height='1327px';} else { vizElement.style.width='100%';vizElement.style.height='1327px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">According to the Tax Foundation, part of the draw may have been&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/taxfoundation.org\/state-population-change-2022\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">low taxes<\/span><\/a><span data-preserver-spaces=\"true\">. But those savings are likely overshadowed by the decrease in mortgage or rent expenses movers to these states may enjoy, especially those coming from major urban areas like New York. The Fiscal Policy Institute&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/fiscalpolicy.org\/wp-content\/uploads\/2023\/01\/Fiscal-Policy-Institute-Housing-Costs-Not-Taxes-Drive-Migration-out-of-New-York.docx.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">reports<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;that the average family leaving New York saves 15 times more in housing costs than tax costs.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The NAR also used USPS data to identify migration trends between metro areas. Cities with the largest inbound moving rates were also in the South and the West. Some of the areas that saw the most population growth include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Ocala, Florida<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Tallahassee, Florida<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Charlotte, North Carolina<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Savannah, Georgia<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Houston, Texas<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Deltona, Florida<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Myrtle Beach, South Carolina<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Huntsville, Alabama<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Miami, Florida<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">McAllen, Texas<\/span><\/li>\n<\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">The NAR notes that these Sun Belt areas experienced rapid job recovery after the pandemic. In these areas, there are about 5% more jobs on average than in March 2020.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Where Are People Leaving?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">As Americans find new homes in the South and the West, they\u2019re leaving states that have high housing costs, high taxes, and\/or slow job growth. The states that lost the most residents in 2022 were California (-0.3%), New York (-0.9%), Illinois (-0.8%), New Jersey (-0.1%), and Massachusetts (-0.1%).&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Some of these states have urban hubs with shocking real estate prices\u2014the median sale price for a home in San Francisco is&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.redfin.com\/city\/17151\/CA\/San-Francisco\/housing-market\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">$1.275 million<\/span><\/a><span data-preserver-spaces=\"true\">\u2014while others were slow to recover after the pandemic. For example, just one metro area in Illinois has fully recouped its COVID-19 job losses, and&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.illinoispolicy.org\/only-1-illinois-metro-area-has-recovered-covid-19-job-losses\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">only 86% of jobs<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;were recovered statewide as of July 2022.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Housing-Related Relocation Becoming Even More Common<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Housing has always been the primary reason people move. They look for better neighborhoods, more space, and more affordable prices. But Census data&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.census.gov\/library\/stories\/2022\/03\/united-states-migration-continued-decline-from-2020-to-2021.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;that housing-related moves have become even more common during the pandemic, while the share of people moving for family-related or job-related reasons has shrunk slightly. 46% of Americans moved for housing-related reasons in 2021, up six percentage points from the prior year.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Fewer people are migrating now than ever before. But those who are relocating are going farther distances. As people struggle to find affordable housing in the major cities that have historically been the most desirable places to live, we\u2019re seeing more population growth in Southern and Western areas. Demand for housing in these areas will eventually drive an increase in housing prices, so investors can analyze migration trends to find areas with future growth potential.<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_d024245a74bf3eff38b9b559eab0ead6\" class=\"visibility-group alignwide  hidden\">\n        \n\n<div id=\"hero-block_37f2bc2814e3cbbe62aa5ac4136f99da\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find the Right Agent, Close the Best Deal<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:18px\">Step #1: Use Agent Finder to match with top <em><strong>investor-friendly<\/strong><\/em> real estate agents to help you find, analyze, and close your next deal.<\/p>\n\n\n\n<div id=button-custom-event-block_cfa5737cb5eed85b9660b6d1b56c2d6c class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Agent Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/new-census-data-shows-where-americans-are-moving&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/08\/Marketplace-Blog-Blocks-Agent-v3.png\" alt=\"investor friendly real estate agent\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/new-census-data-shows-where-americans-are-moving&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Americans are squeezed by inflation and rising housing prices in big cities. They\u2019re seeking refuge in states with warm climates, a lower cost of living, and plenty of job opportunities\u2014states [&hellip;]<\/p>\n","protected":false},"author":613615,"featured_media":146832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,8],"tags":[],"class_list":["post-146829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-trends"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/146829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613615"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=146829"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/146829\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/146832"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=146829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=146829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=146829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}