The American Moving & Migration Trends You Need to Know
A new study from LendingTree reveals that almost a full half of current homeowners are planning to move in the next decade. And a big chunk of them are moving to a new city or entirely new state.
But where will they head? If you look at last year’s migration data, probably the South and Southwest.
Where Americans are moving
According to a new analysis from HireAHelper, Florida was the top destination for out-of-state movers in 2019. It was the No. 1 spot for migrants from 22 states across the nation. Other top places for out-of-staters were California, Texas, Virginia, Arizona, and Massachusetts.
West Virginia had the biggest net loss of residents in 2019, followed by New York, Connecticut, and Illinois. Statistically, Wyoming, Montana, and Arkansas residents are more likely to move out of state than others, while those in Maine, Washington, and New Hampshire are more likely to stay put.
At the city level, Durham, N.C., saw the biggest gains in new residents, followed by Jacksonville, Fla., and Albuquerque, N.M. Cities like Chattanooga, Tenn., and Miami had the largest net losses in 2019
What are they paying for these moves?
A separate study from StorageCAFE looked at the costs of these cross-country moves, finding the average somewhere between $2,400 to $4,500 on average.
California residents moving to Colorado see the biggest moving costs, with expenses topping out at $4,500. Idaho-to-Cali movers saw the next-highest costs at $3,900 to $4,300 in moving expenses.
The most affordable state-to-state moves were New Jersey to Pennsylvania and Ohio to Michigan (both $2,300 to $2,400).
Planning a big move?
If you’re planning a big move, make sure you do all you can to max out your home sale profits. Make some key upgrades, stage the property, and work with a top real estate agent, and ensure you get the absolute most for your home once it hits the market. This can help offset those costly moving expenses and reduce your financial burden.
And when you’re ready to start your new home search, contact Embrace Home Loans.
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