It’s no surprise that people are moving to Florida or Texas.
It’s not surprising that people migrate to the sun and fun when they can live and work wherever they like. The Sun Belt is seeing a rise in population. Say goodbye to snowstorms and hello to sandy beaches.
The National Association of Realtors (NAR), used data from the United States Postal Service on changes of address to create a map of immigration in 2022. These data allowed them to answer questions such as: Which states are experiencing the greatest increase in residents? Which states are losing residents the most? Which cities are the most popular to relocate to?
Since the COVID-19 pandemic in 2004, remote workers have continued to move in search of affordable housing and space. The largest losses in 2022 were recorded in New York, California, and Illinois. Other states like Florida, Texas, and the Carolinas saw the greatest population growth in 2022.
The Lone Star state saw a gain of 1.6% in its total population, with 230,961 residents. The state’s largest inbound move rate was 55.7% in Houston’s metropolitan area. However, other major cities such as San Antonio, Austin, and Dallas also saw positive increases in population.
California retained its title as the ‘Most populous’ state, but it lost 343,230 residents. Los Angeles, San Francisco, and San Jose are still the most popular cities for California residents. Despite the state’s overall loss in residents, they each had positive move rates in 2022.
Florida saw an increase of nearly 2% in population as 318,855 people moved there in 2022. Tallahassee and Ocala were the most popular cities for movers. Deltona and Miami saw large influxes of residents.
Illinois, home to Chicago, one the largest cities in the country, lost 141 656 residents in 2022. This is a 0.8% population loss. Although a decrease of 0.8% may not seem like much, it can be felt in local housing markets. Chicago has seen a 1.4% increase in inbound immigration since 2019. Remote working has led to more people fleeing the city in search for open spaces.
You can find the complete NAR report here. It will show you where your state and zip code are in the data sets. Surprises may befall local markets if the change is even.5% or 1%.
Agents who work in these states and metros should be aware of the migration trends to determine their pricing strategies and to gain new business as homebuyers move into the area.