The Commercial Real Estate Alpha Site

By Jon Keegan via Sherwood News –– Click Here for complete article and others similar to it.

10/18/24 12:49PM

The US Census Bureau has just released its latest estimates for state-to-state migration flows. Americans were asked if they lived in the same place a year ago, and if not, they were asked which state they lived in.

The state that received the largest net increase was Texas, which gained about 130,000 new residents. Over 610,000 people moved to the Lone Star state, while about 480,000 left.

The state that lost the most residents to Texas was California, a trend which Tesla CEO Elon Musk was a part of last year, recently moving the headquarters of X to rural Bastrup, Texas, outside of Austin.

California saw the largest net loss of residents overall, losing close to 270,000, but that’s less than 1% of the state’s estimated population of 38 million people.

https://flo.uri.sh/visualisation/19857121/embed?auto=1

Blue states like California, New York and Illinois continued to lose residents to the sunny retirement haven of Florida.

https://flo.uri.sh/visualisation/19867167/embed?auto=1

The Carolinas both welcomed large numbers of new residents, with North Carolina netting over 100,000 new residents — the third-largest net gain overall — and South Carolina coming in with about 70,000 — the fourth-largest net gain.

https://flo.uri.sh/visualisation/19346170/embed?auto=1

Over the past year and a half, the significance of state abortion laws has carried more consequences, as nearly half of US states have banned or passed significant restrictions on the procedure, though this doesn’t appear to have caused a detectable shift, as Texas has one of the strictest bans on abortion, with no exceptions for rape or incest.

Census Bureau data from 2022 shows that the biggest reasons people moved were related to housing, family, and employment.

Why Americans Move

The US Census Bureau’s Current Population Survey Annual Social and Economic Supplement (CPS ASEC) asks respondents why they moved.

Housing

Wanted newer / better / larger house or apartment

14.4%

Wanted to own home, not rent

8.5%

Cheaper housing

7.7%

Other housing related

5.5%

Wanted better neighborood / less crime

4.7%

Foreclosure / eviction

Family

To establish own household

11.2%

Other family related

9.2%

Change in marital status

6.0%

Employment

New job or job tansfer

9.2%

To be closer to work / easier commute

4.2%

To look for work or lost job

Retired

Other job-related

Other

All other reasons

5.8%

Relationship with unmarried partner

4.4%

To attend or leave college

2.9%

Health reasons

Change of climate