Out of state moves are on the rise and according to a new analysis, Washington, D.C., North Dakota and Wyoming are the top destinations. A whopping 9.1 percent of D.C.’s current population moved from another state in within the last five years.Verify your new rate (Aug 6th, 2020)
Where Americans are moving
Though D.C. claims the biggest influx of out-of-state residents in the last five years, North Dakota and Wyoming aren’t far behind. According to an analysis from Porch.com, a full 5.6 percent of North Dakota’s current residents recently moved from out of state, while 5.5 percent of Wyoming’s have.
States in the South and West also saw a strong showing in terms of attracting out of state migrations. The analysis shows Texas and Florida claiming upwards of 100K inward migrations in the past five years.
Oregon, Washington, Nevada, Arizona, Colorado, North Carolina and South Carolina have also seen significant growth in residents from out of state.
Where they’re leaving
Alaska has seen the most outward migrations in the last five years, losing more than 10 percent of its population to other states.
It seems many residents are leaving California, too. More than 25,000 Californians moved to Texas in the past five years, while 18,000 headed for Nevada, 13,000 for Arizona and nearly 13,000 to Oregon.
State-to-state, the biggest loss was seen in New York, where more than 33,000 residents left for the sunny shores of Florida.Verify your new rate (Aug 6th, 2020)
Porch.com’s analysis shows that a large portion of out of state moves are coming from the Millennial and Generation Z cohort.
In the last five years, about 14 percent of out-of-state movers were 20 to 34, while another 7 percent were just 18 or 19.
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Considering an out of state move yourself? Shop around and see what mortgage rates you qualify for today.Verify your new rate (Aug 6th, 2020)