In today’s real estate market, people are on the move for a variety of reasons. Whether it’s to be closer to family, find more affordable housing, or simply improve their quality of life, the 2024 Migration Trends Report from the National Association of Realtors (NAR) provides valuable insights into why Americans are relocating. While many are familiar with the numbers showing where people are moving, this report goes a step further by looking into the motivations behind these decisions.
Motivations Behind Moving in 2024
Understanding the reasons behind people’s decisions to relocate is crucial for anyone in the real estate business. The 2024 report reveals that the reasons people choose to move are largely driven by personal and financial considerations, reflecting broader trends in American life today.
For many, the strongest motivator is the desire to be closer to family and friends. A significant 30 percent of people reported moving primarily to be near loved ones. This trend has become more prominent in recent years, especially following the pandemic, which highlighted the importance of family and social connections. People are looking to build stronger support networks, whether it’s to raise children, take care of aging relatives, or simply enjoy the company of family and friends. The emotional value of being close to loved ones appears to outweigh other practical considerations for many people today.
Another key motivator, cited by 21 percent of respondents, is the desire to get more home for their money. With the rising cost of housing in many parts of the country, people are increasingly seeking locations where they can purchase larger homes or properties at a more affordable price. This has become a common theme in high-cost cities, where even modest homes may be out of reach for many buyers. Areas like Florida, Texas, and Arizona, known for their lower housing costs compared to the Northeast or West Coast, are seeing significant influxes of new residents who want to stretch their home-buying dollars further.
In addition to family proximity and home affordability, tax rates play a role in people’s decisions to move. Sixteen percent of people said that lower or more favorable tax policies were a primary factor. States like Florida, Texas, and Tennessee, which do not have state income taxes, continue to attract people looking to reduce their overall tax burdens. This factor is particularly appealing to people moving from high-tax states like California, New Jersey, and New York, where the cost of living can be prohibitively expensive.
Safety is also a significant consideration. In fact, 16 percent of respondents mentioned that crime rates and the desire to live in a safer neighborhood influenced their decision to move. With concerns about public safety being more prominent in the news, many people are relocating to areas they perceive as safer. These neighborhoods offer peace of mind, particularly for families with children or individuals looking to retire in a quieter, more secure environment.
Finally, for some, proximity to work remains an important factor in relocation decisions. While remote work has reduced the importance of being close to a physical office for many people, 15 percent of those surveyed said that living near their job was a key reason for moving. However, this is likely a smaller segment of the population, as the trend toward remote and hybrid work continues to reshape the traditional office environment. For individuals in jobs that require a physical presence, such as healthcare or retail, being near work is still a crucial consideration.
Regional Migration Patterns in 2024
In addition to understanding the reasons people are moving, it’s important to examine where they are relocating. The NAR report breaks down migration patterns into four primary regions: the South, West, Midwest, and Northeast. These regional differences reflect not only economic opportunities but also lifestyle preferences that influence people’s decisions about where to live.
The South remains the most popular destination for movers, with nearly half of all relocations (46 percent) heading to this region. States like Florida, Texas, and North Carolina are consistently attracting new residents due to a combination of factors. For one, the warm weather is a big draw, particularly for people from colder climates looking for year-round sunshine. Additionally, the lower cost of living in many parts of the South, especially compared to Northeastern and West Coast cities, makes it an attractive place to settle down. Whether it’s retirees seeking a comfortable lifestyle or young families looking for affordable housing, the South offers something for everyone. The strong job markets in states like Texas, where industries such as tech, energy, and healthcare are booming, further contribute to the region’s growing appeal.
The West is another region seeing a lot of movement, though it is a bit more complicated. While it continues to be a top destination, attracting 25 percent of movers, many of these individuals are relocating to more affordable cities and states within the region. California, long known for its tech and entertainment industries, has seen an outflow of residents due to its high housing costs. However, people are still flocking to other parts of the West, such as Nevada, Arizona, and Colorado, where housing prices are more reasonable and the job market remains strong. For those who want access to the outdoor lifestyle that the West offers—whether it’s hiking, skiing, or other recreational activities—these states are a popular choice. The appeal of vibrant cities like Denver and Phoenix, combined with a lower cost of living compared to places like San Francisco or Los Angeles, is drawing people from more expensive markets.
The Midwest, although often overlooked in national migration trends, has become increasingly popular in recent years. In 2024, 18 percent of people chose to move to the Midwest, citing its affordability and growing job opportunities. Housing prices in cities like Indianapolis, Columbus, and Detroit are much lower than in many other parts of the country, which makes the region an attractive option for first-time homebuyers and those looking for more space. In addition to affordable housing, the Midwest is home to industries such as manufacturing, agriculture, and technology, which are offering more job opportunities. For those seeking a slower pace of life, good schools, and a strong sense of community, the Midwest is proving to be a welcoming place to relocate.
The Northeast, traditionally a hub for commerce and culture, saw fewer relocations in 2024, with only 11 percent of movers choosing to settle in this region. High housing costs in major cities like New York, Boston, and Washington D.C. are driving people to more affordable areas, both within the region and outside of it. While the Northeast still offers plenty of job opportunities and cultural amenities, the rising cost of living is pushing many people to consider moving to the South, West, or Midwest, where they can live more affordably without sacrificing quality of life.
The Influence of Remote Work
One of the most significant changes in migration patterns in recent years has been the rise of remote work. The pandemic introduced many people to the possibility of working from home, and for many, this has become a permanent shift. The NAR report shows that 43 percent of movers said that job location was not a factor in their decision to relocate because they were working remotely. This trend is having a profound impact on migration patterns, as people are no longer tied to living near their physical workplace.
With the flexibility to work from anywhere, many individuals and families are seeking out areas that offer a better quality of life, whether that means more affordable housing, better weather, or simply a change of scenery. The ability to work remotely has made it possible for people to move to less expensive cities, suburban areas, or even rural regions, where they can enjoy larger homes and more outdoor space for the same price as a smaller apartment in a high-cost city. In particular, the South and West have benefited from this shift, as people leave expensive coastal cities in search of more affordable housing and a slower pace of life.
While remote work is a significant factor in today’s relocation trends, it’s important to note that some industries and professions still require people to be physically present. Healthcare workers, teachers, and retail employees are just a few examples of professions that can’t be done remotely. For these individuals, being close to their job remains an important factor in their decision to move.
The Future of Migration Trends
Looking ahead, it seems likely that many of these migration patterns will continue. The trend toward remote work is expected to remain strong, which will continue to drive people to more affordable regions. As the cost of living continues to rise in major urban centers, people will continue to seek out areas that offer more space, lower taxes, and a better quality of life.
At the same time, certain regions—particularly the South and West—are likely to continue attracting people due to their economic opportunities, favorable weather, and relatively low cost of living. While the Northeast and Midwest will always have their appeal, they may need to adjust to these new migration patterns if they want to remain competitive in the housing market.
For real estate professionals, staying informed about these migration trends is crucial. Understanding where people are moving and why can help realtors better serve their clients, whether they are buying, selling, or relocating.
