A survey by LendingTree found that about half of Americans looked into moving in the coming year.
The researchers took a closer look at where, specifically, homeowners who relocate are most likely to go. Using data from January-December of 2020, LendingTree analyzed the migration patterns of American homebuyers in each of the 50 states. They found that most surveyed are thinking of moving within the state where they live and that homeowners in certain places—like New York—are more likely to move to another state.
The report's key findings show:
- About 85.65% of movers stay in the state that they’re currently living in.
- Texas has the highest percentage of movers looking to move within state lines at 93.57%. Not only is Texas popular among its own residents, but its relatively low home prices and lack of a state income tax also make it a popular destination for out-of-state movers from states like California and Colorado. For example, 14.04% of homebuyers who move out of California and 11.91% of homebuyers who leave Colorado move to Texas.
- New York has the most residents looking to leave. 75.28% of New York state movers stay in the Empire State.
- Most out-of-state movers don’t go far. Thirty-three of the most popular destination states border the current state where a mortgage shopper resides.
- Florida is the favorite out-of-state destination for mortgage shoppers in 14 of the 50 states. What’s more: Of those 14 states, 12 do not border Florida. The Sunshine State has a long history of bringing in visitors and new residents, particularly retirees, thanks to a mix of affordable housing, no state income tax, and, of course, its sunny weather. Florida also retains current residents with the fifth-highest share of movers who look to stay in-state.
For the full study with a regional breakdown, visit LendingTree.com.