North American Van Lines Shares Their U.S. Moving Migration Report
Provided by Theresa Bass, North American Van Lines
Every year, thousands of individuals and families in the United States migrate from one state to another in search of a lower cost of living, a kinder climate, better employment opportunities, and other factors. Recent trends indicate that populations are moving away from expensive urban and coastal areas and settling down in smaller, more affordable communities.
The U.S. Moving Migration Report is a comprehensive study that examines population shifts and trends across the United States. Every year, the North American Van Lines National Movers Study charts the leading inbound and outbound states for Americans on the move. It also takes a closer look at cities seeing the greatest influx of new residents. These trends unlock essential insights into nationwide social and economic changes as well as localized intel on up-and-coming cities and neighborhoods.
In 2023, North Carolina ranked third among inbound states. Of all relocations in North Carolina last year, 63% were inbound, and only 37% were outbound, totaling a 1% increase in inbound population from 2022. Many of these individuals and families arrived from the leading outbound states, such as Illinois, California, Pennsylvania, Minnesota, and Washington.
North Carolina, along with other southern states like South Carolina and Tennessee, has been a popular destination for relocations since the start of the COVID-19 pandemic in early 2020. The primary reasons these states have seen such a major uptick in inbound movers are affordability and the rise of remote and hybrid work. Individuals no longer need to live in big cities to have high-paying jobs. They can comfortably work from home in areas that better accommodate their budgets and lifestyles.
In the last year, Raleigh and Charlotte had the highest influx of new residents among North Carolina cities. Both cities are known for their low cost of living and affordable housing. Iredell County also saw an uptick in state-to-state migration in 2023.
Since 2010, Iredell County’s population has grown by over 22.6%. According to Redfin, the median sale price of a single-family home is around $379,978, down 1.8% year-over-year. However, in January 2024 alone, there were over 186 homes sold, representing an increase of 6.9% year-over-year. Iredell County homes are selling more quickly than in previous years as well: The average home is on the market for only 54 days as of January 2024, meaning homes are selling around 12 days faster than last year.
Americans are always on the move in search of affordable housing, lower taxes, and a higher quality of life. Iredell County is a growing area offering affordable accommodations that meet the needs of families and working professionals alike. With the rising cost of housing and concern over inflation, Iredell County is likely to see steady population growth throughout 2024 and beyond.
To read the full report.
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