Americans are on the move, but where too?
To read the detailed report of the top Inbound and Outbound States, click here.
In 2022 it is reported that most Americans found themselves leaving high cost of living areas in favor of warmer climates and more reasonable housing conditions.
While some of the findings of the 2022 Moving Migration Report were expected, a number of others were surprising.
- Move volume, or the number of individuals that moved in 2022 was down compared to previous years.
- Southern states remained primary draws for those moving, with top destinations of South Carolina, North Carolina, Tennessee, Arizona, and Florida.
- For the 4th year in a row, Illinois has the largest percentage of individuals moving out of the state.
- Tennessee, North Carolina, and South Carolina have consistently been on the list of top inbound states since 2020.
- Many of the moves revolve around the flexibility of remote work and those choosing to take the route of early retirement.
- It is a possibility that the surge in remote work leads people to areas with less restrictions in the short term, or a smaller tax burden in the long term.
Where will 2023 take you?
Your Local Market Update for August 2023