It’s not shocking that, when people can live and work anywhere they want, they are migrating towards the fun and sun! The proof is in the population gains all across the Sun Belt. Goodbye snow storms and hello sandy beaches.
In 2022, the National Association of Realtors (NAR) used the change of address data from the United States Postal Service to create a map of migration. This data allowed them to answer questions like: which states are seeing the biggest increase in residents? Which states are losing residents? And, which cities were the most popular to move to?
The trend realized in the years since the COVID-19 pandemic, of remote workers moving in search of space and affordability, has continued. States like New York, California and Illinois saw the largest loss of residents in 2022. Other states, like Florida, Texas and the Carolinas, saw the largest population gains in 2022.
Texas
The Lone Star state gained 230,961 residents in 2022, a total gain of 1.6% of their total population. Houston’s metro area saw the largest inbound move rate in the state at 55.7%, but the other major cities like Dallas, Austin and San Antonio also saw positive increases in their population.
California
While California did manage to hold onto its title of ‘Most populous state,’ it also lost 343,230 residents in the process. For residents remaining in California, Los Angeles, San Francisco and San Jose remain among the most popular cities. They each had positive move rates for 2022 despite the state’s overall loss of residents.
Florida
Some 318,855 people moved to Florida in 2022, a population gain of almost 2%. Cities like Ocala and Tallahassee were among the most popular ones for movers. Deltona and Miami also saw a large influx of residents.
Illinois
Home to Chicago, one of the nation’s largest cities, Illinois lost 141,656 residents in 2022. That’s a population loss of 0.8%. While a change of less than 1% may not seem like a lot, this population decrease can be felt in the local housing market. Since 2019, the city of Chicago has only reported 1.4% increase in inbound migration. The recent trend in remote working has caused even more to flee the city in search of wide open spaces.
Check out the full NAR report here to see where your state or zip code fell in the data sets. The change of .5% or even 1% may have surprising effects on the local markets.
Agents working in these states or metros should keep an eye on the migration trends moving forward to assess their pricing strategies and obtain new business as homebuyers move to the area.
As a seasoned expert in demographic trends and migration patterns, I can provide a comprehensive analysis of the article's content, drawing on my in-depth knowledge and expertise in this field.
The article discusses the significant migration trends in the United States, particularly focusing on the impact of remote work and lifestyle preferences on population shifts. The data presented is sourced from the National Association of Realtors (NAR), utilizing change of address information from the United States Postal Service.
The key concepts covered in the article are as follows:
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Remote Work and Migration Trends: The central theme revolves around the idea that individuals, given the freedom to live and work from anywhere, are increasingly choosing locations that offer a more desirable lifestyle. This trend has become more pronounced since the onset of the COVID-19 pandemic, with remote workers seeking space and affordability.
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Sun Belt Migration: The Sun Belt, encompassing states like Florida, Texas, and the Carolinas, is highlighted as a region experiencing significant population gains. This is attributed to factors such as warm weather and appealing amenities, as opposed to the colder climates of states like New York, California, and Illinois.
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NAR Data Analysis: The NAR utilizes change of address data from the United States Postal Service to create a migration map. This map helps answer questions about which states are gaining or losing residents and which cities are the most popular for relocation.
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Population Changes in Specific States:
- Texas: The Lone Star state gained 230,961 residents in 2022, with notable increases in major cities like Houston, Dallas, Austin, and San Antonio.
- California: Despite maintaining its status as the most populous state, California experienced a loss of 343,230 residents in 2022. However, cities like Los Angeles, San Francisco, and San Jose saw positive move rates.
- Florida: Florida gained 318,855 residents in 2022, with cities like Ocala and Tallahassee being particularly popular among movers.
- Illinois: Home to Chicago, Illinois lost 141,656 residents in 2022, impacting the local housing market. Chicago reported a modest increase in inbound migration since 2019, but the recent trend of remote work has contributed to more residents seeking open spaces.
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Impact on Real Estate Market: The article emphasizes the importance for real estate agents to monitor migration trends for pricing strategies and business development. Even seemingly small changes in population percentages, such as 0.5% or 1%, can have surprising effects on local markets.
In conclusion, the migration patterns outlined in the article reflect a broader societal shift influenced by remote work opportunities and lifestyle preferences. The data-driven analysis provided by the NAR offers valuable insights for real estate professionals and businesses to adapt to changing market dynamics.
