Successful real estate investors always have their eyes open for promising new markets. In this Fun Fact Friday podcast episode, Bill explores a study put out by a major U.S. moving company that tracked the numbers of moves into and out of all 50 U.S. states during 2017. He shares the data for the Top 5 Inbound and Top 5 Outbound states.
According to the latest information published by the U.S. Census Bureau, the percentage of people that move every year equates to 14% of the population (or roughly 40 million). People move for a variety of reasons: housing, jobs, family, etc. Being aware of migration patterns can provide you a better idea on the behavior of Americans. The following historical U.S. migration study will provide you the states with the largest influx of moves and the states that have the most outbound moves.
2017 US Migration Report
Top Outbound States
Top Inbound States
Key Takeaways from 2017 Migration Report
Connecticut has consistently been in the top 10 of outbound moves since 2013. It was #1 in 2013 and #2 in 2017. Pennsylvania, New York and New Jersey have also made the list consistently since 2013. Maine and Rhode Island have both gone back and forth in having more inbound and outbound moves over the years.
South Carolina was in the #1 spot in 2013 and 2014, then started to slip down. They were still in the top 4 but lost their top ranking as the state with the most inbound moves. North Carolina beat South Carolina for the first time in 2016 and kept their rank in 2017. Tennessee, Georgia, Florida and Texas remained constant in the top 10 from 2013-2017. Overall, the Southern states have had more inbound moves than some of the other regions.
Illinois has consistently been in the top 3 positions of outbound moves since 2013, getting the #1 position 3 times. Michigan has been on the top 10 list of states with the most outbound moves since 2013. Iowa consistently had more outbound moves than inbound until 2017, when it had more people move to the state than out of the state. Kansas has consistently had slightly more outbound moves, as well as North Dakota and Ohio. South Dakota has gone back and forth in having more outbound and inbound moves. Wisconsin was consistently having more outbound moves until 2016.
In 2013 and 2014, Idaho wasn’t in the top inbound states. Then in 2015, it was #1. It remained #1 in 2016 and slipped to #2 in 2017. It is currently the nation’s fastest-growing state, with its population increasing 2.2% between July 2016 and July 2017. Oregon, Arizona, and Colorado have consistently been in the top 10, with Arizona #2 for 3 years and topping at #1 in 2017. The western states also have had more overall inbound moves that the Midwest and Northeast.
This is their data of all state inbound outbound COD moves ( consumer moves). We define the top inbound and outbound state as those that have the highest proportion of moves where the absolute value difference of inbound and outbound moves is greater than or equal to 400. This weeds out states that had a small number of moves but would have a high ratio of inbound/outbound moves.
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