of pandemic Many families chose to move in search of more space or a lower cost of living, creating a restlessness in American life. left and moved to a new state.
However, some areas have benefited from an influx of new residents. The trend could help these regions grow their economies and broaden their tax bases, while others are witnessing net losses for residents. About 25 states in the United States moved more people within their boundaries last year, while about 25 lost their population or remained relatively flat, according to an analysis of survey data.
Nadia Evangelou, senior economist and director of real estate research at the NAR, said the states gaining residents have some things in common. For one thing, many states have a faster-than-average job market. during a pandemicAnd secondly, these states are also states with more affordable housing than parts of the country that have lost their residents.
The states that will attract the most new residents in 2022 will be Florida, Texas, North Carolina, and South Carolina, followed by other states in the South and West.
“We all know these regions have low tax rates and great weather, but another reason that makes these regions so popular is the strong post-pandemic job market recovery,” Evangelou said. told CBS News. “Not only have their economies been able to recover all the jobs they lost, they have 5% more jobs now than they did in 2020.”
There may be other reasons the southern and western states attracted more residents last year: lower taxes, according to to the tax foundation. Some high-tax states, such as California and New York, have seen their occupancy decline in 2022.
Florida recorded the largest net increase last year, with about 319,000 people moving to the state, according to NAR analysis. California lost the most residents, with 343,000 people leaving the state for other areas. rice field.
“This demographic shift paints a clear picture: people left high-tax, high-cost states for low-tax, low-cost alternatives,” policy analyst Janelle Fritz wrote on her blog. wrote. director Early this month.
Still, taxes may play only a minor role in a family’s decision to move.More affordable housing and more jobs could be more attractive, says new analysis of Migration Patterns in New York from the Fiscal Policy Institute. About 300,000 people left New York state last year.
A new analysis finds that people who move out of New York typically save 15 times more than they would through tax savings, due to lower housing costs.
“Among the top 20 with the highest county-to-county inflows from New York State, median housing costs were significantly lower in destination counties,” the analysis notes. Mortgage costs are, on average, $18,300 lower in New York counties than home counties, a savings of 34%.”
Cities with the most inbound movement last year are located in Florida, Texas, and Carolina, according to the NAR’s analysis. was one of the largest cities that exceeded outbound travel by more than 6%.