It’s not just a post-Covid thing.
The percentage of people moving each year has plunged from 15.40 percent to 11.76 percent between 2010 and 2024 according to Census Department Data.
The percentage of movers has declined every year except for 2013 which was flat.
This is a secular trend not just a recent affordability issue.
Although the percentage of those moving has dropped dramatically, the percentage of those moving out of state has been stable.
The 2010-2024 range is 2.13 percent to 2.50 percent. However, the low was 2.13 percent in 2024.
Gen Z (Zoomers) the Most Mobile Generation
Those age 18-29 are the most likely to move. The peak moving years are age 20-24.
This is intuitively obvious as high school graduates move to college then move again when they graduate. If they do not get a job right away they may move back home, then many move when they get a job or switch jobs.
By the time people hit 45 the odds of moving within a calendar year plunges to 8.5 percent or so.
Which States Are Still Gaining Residents?
Based off the same data, the Storage Cafe addresses the question Which States Are Winners and Losers?
Key Takeaways
- Interstate migration slowed sharply in 2024 to 2.1% of the U.S. population, compared to 2.3% in 2023 and 2.5% in 2022.
- Texas and Florida remain the top states for net domestic migration, but both are seeing markedly slower population gains compared to recent years.
- Gen Z has overtaken Millennials as the most mobile generation, with 2.2 million Gen Zers relocating across state lines in 2024 versus 1.98 million Millennials.
- Affordable Midwestern states are gaining ground: Ohio, Michigan and Wisconsin are emerging as increasingly attractive migration destinations.
- Vermont leads on a per-capita basis, adding more than 20 newcomers per 1,000 residents — the highest relative inflow in the country.
- New Hampshire and Maine convert the highest share of new residents into homeowners, with 57% and 56%, respectively, purchasing a home within their first year.
What Migration Says About America’s Housing Market
Our analysis of the latest Census data shows that the Sun Belt is no longer unstoppable. Texas and Florida are still gaining residents, but at roughly half last year’s pace. Meanwhile, a comeback is taking shape in parts of the Midwest — and Gen Z has quietly become the most mobile generation in America.
The pull factors that once drew households across state lines — cheaper housing, lower taxes and more space — have weakened. Many of the states that attracted waves of incoming migration in recent years, particularly the Sunbelt states, have seen home prices climb sharply, eroding their affordability advantage.
At the same time, elevated mortgage rates are locking many homeowners in place. Millions secured ultra-low rates several years ago and are now reluctant to trade them for loans that would dramatically raise their monthly payments. For more and more would-be movers, the math simply doesn’t add up anymore.
Work is also reshaping mobility patterns. As more employers scale back fully remote arrangements, relocating to a lower-cost state can carry new professional risks. Without certainty about long-term flexibility, households are hesitating — and career mobility, once the dominant engine of interstate migration, has softened considerably over the past decade. According to United Van Lines’ latest movers study, “new job or company transfer” accounted for 25.92% of moves in 2025, down from 29.10% in 2023 and dramatically below the 2018 peak of 47.60%.
Instead, migration today is increasingly anchored in personal relationships. Strengthening family ties has become the most common reason for interstate moving in both 2024 and 2025. In 2025, 29.13% of movers relocated to be closer to family, up from 27.10% in 2023. Retirement remains another steady driver at 13.86%, while lifestyle changes account for 9.54% of moves. Notably, “improved cost of living” — a frequent justification during the pandemic migration wave — represents just 3.22% of moves in 2025, underscoring how affordability-driven relocations have lost momentum.
Essentially, we’re seeing a more cautious, more constrained America. Moving across state lines is no longer an obvious path to saving money. Instead, relocation decisions are increasingly shaped by pragmatic and lifestyle-oriented considerations — strengthening family ties, planning retirement, or seeking stability amid economic uncertainty and climate pressures.
Gen Z Leads Interstate Migration
For the first time on record, Gen Z is America’s most mobile generation, accounting for nearly one in three interstate moves. In 2024, 2.2 million young adults moved to a different state overtaking Millennials after years of millennial dominance and a near tie between the two generations in 2023.
Several factors help explain Gen Z’s rise to the top. Many in this generation are now in their early-to-mid 20s, prime years for mobility driven by education, early career moves and lifestyle exploration. With fewer family obligations and lower homeownership rates, Gen Zers often have greater flexibility to relocate for job opportunities, more affordable cities or simply a change of scenery. The normalization of remote and hybrid work has also expanded their geographic options right at the start of their careers.
That flexibility shows up clearly in where they are choosing to go. The top destinations for net Gen Z migration are South Carolina, Missouri and the District of Columbia, showing that Gen Zers are driven both by affordability and ambition. South Carolina and Missouri offer lower housing costs and growing regional job markets, giving young adults room to establish themselves financially. At the same time, the District of Columbia continues to attract Gen Z movers drawn to policy, media and professional services careers that benefit from proximity and networking.
Meanwhile, millennials, now deeper into their 30s and 40s, are increasingly entering more settled life stages. Marriage, parenthood and homeownership tend to anchor households, making long-distance moves less frequent. As a result, millennials slipped to second place in 2024, representing 28% of interstate movers, or about 2 million people.
The top destinations for net millennial migration are Texas, Maryland and North Carolina, states that combine economic viability with long-term housing opportunities. Texas and North Carolina offer large, diversified metro areas with steady job creation and relatively attainable suburban homeownership. Maryland, while more expensive, provides access to stable, high-paying employment tied to federal and professional services sectors. For millennials, interstate migration is increasingly about locking in the next phase of life rather than experimenting with it.
US Migration Magnets
Southern and Mountain West states dominate, but new relocation hotspots are emerging.
Even as interstate moving slows nationwide, some states are much above the rest in terms of attracting and retaining residents. And once again, the strongest performers are concentrated in the South and the Mountain West, regions that have spent years at the forefront of domestic migration.
A combination of relatively affordable housing, lower overall living costs, competitive tax structures and business-friendly environments has consistently positioned these states as magnets for both individuals and employers. Strong job growth, population momentum and pro-development policies have further reinforced their appeal.
In fact, among the top 10 states for net migration in 2024, only one — Ohio — falls outside the South or Mountain West. Its presence, however, signals an important shift. While Sun Belt and interior Western states still dominate the leaderboard, parts of the Midwest and northern U.S. are beginning to gain ground.
Years of sustained inbound migration to Southern and Mountain West states have inevitably reshaped their affordability advantage. Rapid population growth has pushed up home prices, rents and even moving costs in many once-budget-friendly metros. Infrastructure strain and rising insurance premiums in certain areas have also added to the cost equation.
As a result, some households are broadening their search. The Midwest, in particular, is emerging once again as a viable alternative, offering lower housing prices, stable communities and growing job markets without the same intensity of competition seen in long-time migration hotspots. States across the region, including Ohio, Michigan and Wisconsin are increasingly capturing a “second wave” of movers who still seek affordability but are priced out of more established Sun Belt destinations.
Net Migration Map
The high tax states led by California, New York, Illinois, New Jersey, and Massachusetts lead the way in negative migration, in that order, an by net migration per 1,000 residents as well.
The top net inbound states are Texas, Florida, South Carolina, Arizona, and Nevada. On a net migration per 1,000 residents basis, Vermont leads the way at 20.08 followed by Nevada at 13.3. North Dakota at 9.94, and South Carolina at 9.81.
2025 and 2026 Will Be Much Worse
Job hopping declined dramatically in 2025 with a huge slowdown in employment.
In 2026, employment looks to be flat at best, and perhaps very negative.
Much will depend on inflation, how long the war in Iran lasts, whether there is a recession, and whether the Fed is forced to hike rates.
Affordability issues are everywhere.
Related Posts
January 14, 2026: The Fed Has Missed Its Inflation Target on Ten Different Measures
The Atlanta Fed tracks various inflation targets. Let’s have a look.
February 2, 2026: The Fed Has Two Huge Problems Starting Now, Acyclical Inflation and Jobs
The Fed is not in a good spot.
March 11, 2026: Year-Over-Year CPI Inflation Will Worsen for at Least Three Months
This is an easy forecast. And it does not even include gasoline prices.
March 25, 2026: The Name Is Bond “30-Year” Not James, But What’s the Message?
The bond market again shows serious inflation concerns.
March 25, 2026: Gasoline Prices Surge $1 from a Month Ago. Think this Won’t Hit the CPI?
Trump promised to lower energy prices. How’s it going?
Here’s what this looks like in Colorado Springs.
https://www.shouldimovenow.com/blog/the-rate-lock-in-effect-103000-homeowners-trapped
Stuck. And lucky at that.
In recent years, several of my older neighbors have chosen to keep their homes empty when the time came to move into a nursing home or assisted living facility. When the grim reaper comes for them, the property will pass to their relatives with no estate tax and no capital gains tax. It sounds like a good tax strategy if one can afford it, but it is certainly making the housing supply problem worse in California.
Interesting daily candles printed on the major indices
When cities and states discourage building, prices go up. When rates rise while home prices rise, unless you’re leaving the state, why move? No reason to even downsize.
Capital Gains Tax = Boomers don’t want to sell
Capital gains plus IRMAA (penalties for Medicare Part B and D based on two year prior AGI) can be steep. Also, the net-investment tax can be an issue. So selling and having a capital gain can add two additional taxes beyond the capital gain tax. It helps to be married and it helps to make your sell before age 63.
You probably meant age 73, when the Required Minimum Distribution rules come into play for people who funded their IRA/401k plan with pretax contributions (formerly age 70-1/2).
Quite true…many boomers have come into it big-time post Covidflation. These are houses they may have paid $200,000 for 20 or 30 years ago and are now worth $1 million in some cases $1.5M or more. The $250,000 single/$500,000 cap gains exclusion has never been adjusted for inflation and needs to be doubled at a minimum. Better yet, no capital gains on real estate period and that would through a lot of lube into the machine.
One of my greatest concerns is in-migration to the area whee I live.
Growth for the sake of growth is contradictory to long term stability.
Trying to find alternatives to a large 2.75% fixed loan.
No luck so far.
Why try?
Plant a garden and enjoy your comfortable backyard! I have no mortgages and have no desire for one ~ even at low rates. Regardless of how profitable.
When everything about this country is turning negative why would you expect people to start moving around? We are under a lot of assaults right now and the natural response is to retreat into a safer stance.
As my neighbor says…better the devil you know.
I said, do you mean me?
He said no, your the asshole I know.
The devil is probably his wife.
We are not trapped. We think we live in—for us—the almost perfect place.
The current debt ceiling is $40.1 trillion with current debt at 39 trillion. At the current burn rate of $2 trillion plus per year, congress might be arguing over increasing it before the midterm election cycle, maybe. I suspect they will punt and recess to campaign. I seriously doubt a single one will be explaining the required cuts combined with tax increases must exceed the deficit to make any headway on the debt thus our fiscal health. Rather, they will probably be talking of maintaining, even adding to the deficit with “mandatory” spending we can no way afford. This will put private sector upward pressure on interest rates that will soon overpower the fed’s ability to push them down. At that time, the motive to relocate will be increasingly driven by affordability to maintain as much living standard as possible.
For perspective, current spending rate is about $7 trillion annually, required for balance about $5 trillion, or a 25% spending cut with a reasonable tax increase. Fiscal responsibility within congress is probably out of reach.
who you live with as neighbors with becomes the number 1 or 2 core value to detrmining location.
value is a personal appraisal and price is the consequence.
many many people with great financial means live in a home and community well below their net worth. and often have 2
middle grade homes in gated communities sell at a premium price for a reason. now you know why.
“who you live with as neighbors with becomes the number 1 or 2 core value to detrmining location.”
That may have been true in decades past, but your neighbors matter less and less.
Easter Monday is on the “6th”…big number for some cultures
Easter holiday is also as much about the crucifixion as it is the resurrection among other things, depending on which religion you might be looking at
That fact that the current 10 day extension ends on the 6th is not a coincidence
You are on the wrong post or drunk or both. You pick.
A big number for what cultures exactly? Are we really trying to say that somehow the Jews have forced Trump to select a symbolic day based on Jewish magic or some shit? Take your meds schizo.
Try gematria
Not sure the Penny has dropped……. yet
https://www.msn.com/en-us/news/world/outrage-grows-over-israeli-restrictions-to-jerusalem-sites-during-holy-week/ar-AA1ZI8SF
I don’t think it is high taxes (alone) that drive people out of CA, IL, NY, NJ etc – the primary driver is cost of living, especially housing in CA. If you aren’t a corporate worker drone at one of those big tech / big banks it is very hard to make ends meet.
No prob for those who have government pensions in those states.
If you work for a public employee union and are making bank off the backs of taxpayers, you’re fine for a while. Until civic bk’s become a thing and your nest egg is thrown on a bonfire. Won’t happen anytime soon, but it’s inevitable.
High taxes could drive us out of Texas. Property taxes here are sky high. Might move to Malibu. Enjoy the ocean.
It used to be poverty that hindered domestic migration. Now it includes leveraged albatross assets that ties shoelaces together. It is like a chicken coming home to a roost. A civilization economically divided shall not stand. There is something about the boomers and the people who raised them that are generations of high destructive competiveness and not synergistic cooperation.
There are other ways to look at this “high destructive competiveness and not synergistic cooperation.” One might be, I live in a decent community with reasonable density, and do not wish to see it eradicated by a bunch of Stalinist (or maybe Ayn Randian?) developer-arrivistes, as I have seen in this region for decades, devastating once-lovely places. With that goes destruction of any character of the place. I want to hold the line for quality of human life, and community. My town has the highest life expectancy in this area, precisely for holding this line, and retaining its character. Creative destruction can reach a threshold where anyone with any lick of sense could say “that’s overdone.” I’m happy to be “trapped” in any of the homes my family members own, and their delightful locales. I’m happy to trade away mobility for that. Find a good place, and make it good, and keep it good.
Isn’t “keep it good” code “for NIMBY”? What if you had been kept out by earlier residents? No matter how long and how much time you have at your current location, you live there because you had a willing seller and you were a willing buyer. Ayn Rand approves your self interest in your purchase. Limiting others that choice is wrong.
I am all for preserving quality neighborhoods, there should be more of them. Your neighborhood was probably created for you by someone else who had insight.Creative synergistic co-operation would create many more of these desirable neighborhoods instead of the greed driven model of planning and development that is all too common. You cannot just keep slapping a new coat of paint on things and call it good. When Sherwin-Williams Co is added to the DOW along side a hamburger manufacture the boomer dream is almost complete.
Mish is there any break down by age for the various states? The article mentioned Texas, North Carolina and Maryland being popular with younger people due to jobs.
But I suspect the influx into Florida is mostly retirees and not young people looking for jobs since Florida is mostly a service based economy (low wages).
you mean boomers seeing blue plate specials could be the reason? 🤔😉
Just as long as I can be in bed by 6pm!
And running away from blue city costs.
How to Keep the Suburbs Tenant-FreeThe housing bill now in Congress may seek to increase the housing supply—but not for renters.
How to Keep the Suburbs Tenant-Free – The Atlantic
– Texas and Florida are still gaining residents, but at roughly half last year’s pace. > Taxes and affordability
– A comeback is taking shape in parts of the Midwest. Prices reasonable in comparison to the coastal locations.
– Gen Z has quietly become the most mobile generation in America. > No Debt and massive mobility.
– At the same time, elevated mortgage rates are locking many homeowners in place. > Or, are there lifestyle and savings choices not remotely inline with having mobility as an option?
>> Nowhere did I read, or come across lifestyle choices, and debt as the reason? Past generations did stay in their homes much longer, and paid them off in many cases. Not even remotely true today, as they move just to move. Ownership is not an option in todays youthful approach to travel and freedom.Single and free is where it’s all heading. Much cheaper, more fun, and you see everything you want to!
– Essentially, we’re seeing a more cautious, more constrained America. > Or is reality, the fact that we are broke, can’t afford to move or anything else right now, credit is harder to come by and your scores need to be higher than they have ever been. Cost to merely live with electricity, heat, and food, and your pushing the envelope already…
– Moving across state lines is no longer an obvious path to saving money. Instead, relocation decisions are increasingly shaped by pragmatic and lifestyle-oriented decisions. > Or are they specifically based upon affordability and credit?
– That flexibility shows up clearly in where they are choosing to go. The top destinations for net Gen Z migration are South Carolina, Missouri and the District of Columbia. > showing that Gen Zers are driven by affordability. They also love mobility, and don’t feel the need to be tied down, so to speak. Not a lot of earned money, as they like to spend it, but not foolishly, and they are not homeowner material or.even close imo. Gen Z in a nutshell: Work hard to make it, and play hard when they spend it!!!
In the midwest we seem to move within the same area Boomers downsizing,young people wanting to live ‘downtown’ There are those wanting a new stick home in the county from the aging outer rings of the city
I was raised in Titusville, FL moved away for a decade then moved back after marrying a girl who lived here. My grandparents moved to Titusville in the 1950s because it was a gold mine as the federal government was building Cape Canaveral into Cape Kennedy. My paternal grandfather was a prominent Civil Engineer designing aircraft runways and launch towers. My maternal grandfather opened a much needed auto body shop as the feds were paving roads and auto ownership was skyrocketing. NASA, at its peak, employed 18,000 people in the area. Titusville’s population was less than 2000 in the 1940s.
I’ll make a claim that the decline in interstate moves is also a result of the decline in big new employment creating projects around the country. Folks have to compete for a few jobs by employers around the country and pay scales relative to cost of living just aren’t attractive enough to make speculative moves on a large scale. The frontier has been closed for awhile.
This is at the heart of the issue. The American population is aging very rapidly. 10k boomers retiring every day, GenX right behind them (the youngest X is 46), and the oldest millennials are now over 40. What you left out is that medical issues explode past 50 and that is what should terrify anyone hanging around the US healthcare system over the next few years.
I am seeing an uptick of smart boomers retiring overseas because they know social security won’t make ends meet when inflation keeps soaring over the next decade.
I plan on moving outside the US entirely soon enough, some of my siblings plan on doing the same and half my kids now live overseas.
It’s one of the reasons my tag line is….
Got exit strategy?
What happens when the roaring global inflation is much worse overseas?
Many things will become unobtainable and standards of living will nosedive.
Just asking for a friend.
You’re not getting it, if inflation is bad in low cost countries then it will be 10x worse in the U.S.
Maybe this will help.
https://www.youtube.com/watch?v=Tal3Q5rpPu0
The whole point of moving overseas is to arbitrage currencies. If can’t arbitrage, you’re in the wrong country.
For example arbitrage of Yugoslavian Dinar in 1993-4,
But Mousie, thou art no thy-lane,
In proving foresight may be vain:
The best laid schemes o’ Mice an’ Men Gang aft agley,
An’ lea’e us nought but grief an’ pain, For promis’d joy!
People I know who pretend to have found Shagri-la as expatriates in foreign lands have not escaped problems, they just have a new set of problems. They are economic colonialists, and the natives do get restless when compromised. They think all is cool until it isn’t. The only true refuge is to marry one of them and be loved by the family, but more than half of those arrangements are bogus.
Same
As for Social Security making ends meet, no worries after they cancel it, problem solved…need those fake-bux $$$ to fund Israel’s takeover of the ME, as well as Israel’s free healthcare and free college, etc etc. Greatest Ally!
After all, where do think that $500 billion increase in the WAR budget is going to come from? The EZ button on the money printer is broken and it’s out of ink.
SS will never go to 0 since it’s a direct payroll deduction that funds the program.
It can of course be reduced.
It will be marginalized by COLA’ s based on an optimistically low CPI measure that does not match the true cost of living costs.
SS was effectively reduced for many recipients starting in 1984. That was the year that higher income folks started having 85% their benefits subject to Federal income taxes. The The exempt portion was never raised owing to inflation. Obamacare took another portion of higher income folks’ SS benefits by raising Medicare premiums and tying the premiums to people’s incomes.
There are already planned cuts to social security because *some* people are getting too much. Funny how no one says, “these guys are paying too much into the system.”
https://www.cnbc.com/2026/03/25/social-security-benefits-six-figures.html
For us this is “Project Snorkeling Paradise” – aka find it – it won’t be on any mainland US reef.
Being healthy over 50 today is a revolutionary act. I think living in a sunnier climate would be more enjoyable and likely add a few more years of quality life, but not at these prices. The current rates don’t seem unreasonable based on historical patterns. If prices don’t come down hard and fast, then the entire nation could end up with one hell of a DVT or worse.