Point2Homes: Fewer Americans Are Moving
(Image courtesy of Ivan Samkov/pexels.com)
Point2Homes, Santa Barbara, Calif., found only 11% of the U.S. population relocated in 2024.
In comparison, in the first half of the 20th century, nearly one in three Americans moved each year. in the 1960s, about 20% of Americans moved, and 10 years ago, 14.3% did.
Of those who did move last year, only 19.3% changed states in 2024. That compares with 20.1% in 2023.
The trends vary by state. In New Jersey, only 7.8% of residents moved last year. In New York it was 8.5%. Illinois and Connecticut were next, each at 9.5%, followed by Pennsylvania and California at 9.6%. Rounding out the bottom 10 states by movers were Maine (9.7%), Massachusetts (9.8%), West Virginia (9.8%), and New Hampshire and Maryland tied at 9.9%.
Alaskans are the most likely to move, with 14% doing so last year. Oklahoma and Colorado each saw 13.5% of their residents changing addresses, followed by North Dakota (13.4%), Idaho (13.2%), Nevada (13.2%), Arizona (12.9%), Texas (12.8%), Washington (12.7%), Utah (12.6%) and Nebraska and Kansas (each at 12.5%).
Some states are attracting more out-of-state movers than others, with 36.1% of those who move to Wyoming coming from another state. That’s followed by New Hampshire at 35.4%, Vermont at 34.6%, Hawaii at 33.8% and Delaware at 33.1%.
Cities that attracted the most new residents in 2024 included Las Vegas, with 33.1% of its movers coming from other states, followed by Mesa, Ariz., at 29.5%, Boston, at 28.4%, Seattle at 26.6% and Portland, Ore., at 26.4%.
Renters are, unsurprisingly, more likely that homeowners to move, with 61% of all movers being renters and only 39% of homeowners moving in 2024.
