Since 2014, Illinois has been the top state for outbound moves, followed by California
In 2022, Americans were on the move, but where to? Most found themselves leaving high cost of living areas in favor of warmer climates and more reasonable housing conditions, according to the 2022 Moving Migration Report.
The chosen states for inbound moving migration predominantly reside in the south. Whether it’s a coincidence or not, many of these states were among the first to lessen Covid-19 regulations. While it’s a possibility that the surge in remote work leads people to areas with less restriction in the short term, it could also be that these locations offer a smaller tax burden in the long term as well.
Since 2014, Illinois has been the top state for outbound moves, according to the Moving Migration Report. In 2022, Illinois was followed by California, which was followed by New Jersey, Pennsylvania and Michigan.
Throughout the 2022 Moving Migration Report, the increasing cost of living is a consistent reason that people provide for their move. Many people are actively seeking affordable housing which they can’t find while living in their current residence.
Additional driving factors for moving to another state include the desire to have a higher quality of life with access to nature and family. With the expanded opportunities for remote work, many are exploring lower-cost living options because they are no longer bound to one location.
Other leading outbound states include New Jersey and Pennsylvania, both of which have remained on the list for more than a decade.
California and New York sit towards the top of the highest cost of living lists in the United States. To find affordable housing and provide a higher quality of life for their families, people are branching out of expensive states and cities or urban areas.
Those in California and New Jersey have long dealt with tax rates that are in the highest percentage in the United States. These levels take away from a person’s overall income and leave fewer funds for discretionary spending and investments. Owning property, along with property taxes, is part of this equation as well and another top reason for people moving to lower tax liability states.
After experiencing several years of uncertainty, many are on the hunt for somewhere to settle that provides a higher quality of life than they previously had. For many, that means finding a home that is nestled in nature and allows for ample outdoor experiences. Others are relocating to be near family.
- North American: North American