Americans Are Flocking to These 3 Southern States

While Americans did not move at the levels of previous years in 2023, the South emerged as a top real estate market for those looking to move.

Three southern states stood out from the pack, according to a report published last Thursday from HireAHelper. In HireAHelper's 2023-2024 Moving Migration Report, Florida, Texas and North Carolina came in at the top of the list for the percentage of all moves.

Across all 25.6 million Americans who did move in 2023, rural states with lower costs of living have been the most notable for bringing in a new flock of residents.

Looking at ratios alone, Oklahoma, South Carolina and Tennessee had the highest net gains of people moving there, according to the report. Oklahoma saw a 40 percent boost, while South Carolina and Tennessee saw an uptick of 35 percent.

Some other states were far more likely to say goodbye to residents than gain any new ones. While California was a top three destination by volume, the state also saw the highest net loss in residents in 2023, at 44 percent, with New Jersey and Louisiana trailing after. New York also lost 14 percent in net losses, signaling many are done with high costs of living.

City-wise, Wesley Chapel, Florida, saw its population grow the most at 106 percent, but other Florida hot spots took second and third place in Ocala and Saint Augustine, HireAHelper's report found

Michael Ryan, a finance expert at michaelryanmoney.com, has lived in South Florida for around 25 years, and over that time, he's noted several key changes, with more-and-more people moving here daily.

Some embrace the Florida "snowbird" lifestyle and split their time between the northern and southern parts of the East Coast, while others have relocated to places like North Carolina to raise families and build careers in fast-growing cities.

"North Carolina attracts former northerners with its lower costs, jobs in technology and education, and younger demographics, which is why my sister in law moved halfway back from Florida to North Carolina two years ago," Ryan told Newsweek.

Because Florida and Texas offer no income tax, the number of movers there have also surged, said Jave Blackburn, a real estate investor and CEO of We Buy Any House As Is.

"The business-friendly policies in Texas and Florida have encouraged many companies to relocate their headquarters or open significant branches, creating a robust job market," Blackburn told Newsweek.

Beyond where they move, it might be helpful to look at why Americans are moving. As baby boomers reach retirement, many of them are leaving their previous homes for a new environment, and the moving statistics reflected that. Overall, 44 percent more Americans moved to retire in 2023 than in 2022, and warmer and cheaper states were majorly attractive for this, HireAHelper's report stated.

After retirement, 22.8 percent of movers relocated for a new job, while 10 percent said they did it for cheaper housing.

In today's economy, money matters are often factored into people's moves, with lower cost of living being noted in between 10 and 15 percent of moves. The warm temperatures of the South are also a major draw, and around 10 percent of relocators factored this in.

And because more Americans are working in remote jobs, there's often more freedom associated in choosing where you'd like to live, meaning affordability and weather are more feasible reasons to relocate.

"The flexibility of remote work has also played a significant role in people's decisions to relocate, with many choosing states in the South for their lower tax burden and overall lifestyle advantages," Ryan said.

Priced Out of Moving

Overall, Americans were far more likely to stay put in their home states in 2023, even after a significant uptick in 2022. Last year had the fewest moves nationwide ever, at just 7.8 percent, since the United States started tracking this data in the 1940s.

HireAHelper's report attributed this to Americans largely being unable to afford moving in today's economy and housing market. Home affordability reached a historic low last August and mortgage rates have climbed to their highest levels since 2022.

Americans often have other economic struggles to contend with as well, from resuming student loan payments and household debt ticking up to new highs. At the same time, inflation is stubborn at 3.1 percent and rent is at a whopping average of more than $2,000 a month.