In the last couple of years, many people across America began to leave big coastal cities such as Los Angeles, New York, and San Francisco, in search of a more affordable life in the many other cities the United States has to offer.
How did the COVID-19 pandemic affect moving trends?
The global COVID-19 pandemic has brought many changes in different areas of our everyday lives. It has also severely affected many moving companies. The newest data shows that fewer people moved for work and new job opportunities. Many more are deciding to stay home and work remotely, a work model becoming more popular since COVID-19. As you can see below, moves due to job change has decreased over time.
The COVID-19 pandemic caused many to think about their priorities and what they want from life, which, in turn, affects the housing market and real estate prices. Many economists predict big inflation in 2022. All of that will greatly affect the price of houses, apartments, and moving services. Homebuyers are generally more interested in the suburbs, influencing the big shift in the real estate market. Statistics show that prices won’t drop anytime soon, so moving trends will undoubtedly be affected in the near future.
Big cities lost the most inhabitants in the first six months of the pandemic. Looking closely into what cities experienced the highest net losses, some of the country’s most populous areas like Manhattan, Brooklyn, Chicago, and San Francisco made the top of the list.
According to the USPS latest data, people still moved even in these daunting times. Analyzed data showed that more people were willing to leave the big cities for less crowded towns. The same moving trend will probably continue in 2022.
Still, around 20% of Americans who were planning to relocate in 2021 canceled their move because of the new Omicron variant. Many statistics show that the situation won’t be much different this year.
Millennial moving trends
Many people are choosing to move from apartments to more quiet and secluded suburban areas. This trend will continue in 2022 as well. Interestingly, many millennials are ditching big, metropolitan cities for peaceful suburbs. Research has shown that more than 70% of millennials are willing to pack their belongings and relocate in 2022.
Millennials will drastically affect American moving trends in the next few years because they are becoming new home-buyers, searching for high-quality lifestyles. Suburbs and smaller towns will attract many buyers in 2022, and more people will leave urban centers. The bad news is that prices won’t be dropping anytime soon. That’s why many millennials are looking for cities with thriving communities and a below-average cost of living. Millennials will have to face the unpredictable housing market, and many homebuyers will have to navigate through numerous offers and price escalations.
What are the most popular moving destinations and why?
Many Americans decided to move to California, New York, and Texas during the previous year. The motivation behind those moves remains the same. Family, career, and economic reasons are among the top 3 motives that make people want to change their address and start fresh somewhere new. The newest research has confirmed that many Americans moved closer to their families throughout the last year. Other important factors that make people want to relocate are better weather, culture, lower taxes, and political reasons.
The best places to move to in 2022 are forecasted to be:
- North Carolina – low crime rates and great job market
- Florida – beautiful weather and great education
- Texas – low cost of living and affordable housing
- Washington D.C. – diverse culture and endless opportunities
Many moving companies can expect to move many customers to Texas and Florida. Six out of ten cities that had the highest net gain of movers during 2020 were in Texas. The Lone Star State has many attractive features, such as a lower cost of living, a variety of smaller towns, and plenty of open space. Texas has experienced an inflow of more than 500,000 recent new residents, with the majority of them coming from California and Florida.
According to data, around 84% of people moved within the same area. The latest moving patterns show us that less-dense neighborhoods are becoming popular among many different generations.
It has been noticed that many Americans left the Northeast and Midwest in favor of the Southeast region. It’s very likely that 2022 will follow a similar moving pattern. Cold winters, low temperatures, and high cost of living are just some common reasons for leaving the Northeastern states.
How does the cost of living affect the latest moving trends?
As many economists predict, the cost of living in the U.S. will continue to increase. The inflation that started in 2021 won’t come to an end in 2022. The inflation rate will probably reach about 6% by spring this year. Homebuyers are generally more interested in suburbs, which will affect the real estate market price in 2022. What does that mean for people who want to move?
It can affect them in many different ways, and it can also impact their decision about the move in the first place. New York, Boston, San Francisco, Los Angeles, and Washington D.C. are among the most expensive cities in the U.S. That means many people will have to pay around 15% more to move there this year. It also means that many Americans will look to relocate to a state or city with lower living and housing costs.
In the last ten years, the cost of living in major American cities has skyrocketed. Research shows significant home price increases – Los Angeles with 94.32% median home price increase, New York 38.81%, and San Francisco 91.99%. Many have now found it difficult to maintain their lifestyle with the huge costs life in the big city comes with, and have started to look into alternative cities to call their new home.
The most notable factor for such a drastic move by so many Americans was the ripple effect caused by the COVID-19 pandemic. The work-life environment has drastically changed, with the outcome being a mass shift to remote work from a home office. With the flexibility this has to offer, it now doesn’t make financial sense for many to remain in the larger, more costly cities their jobs used to tie them down to.
Some took advantage of record-low interest rates to become homeowners. Renters are becoming buyers, and those who left big cities for smaller towns during the pandemic aren’t coming back. Many recognize the value of having more space, a big yard, a place for kids to play, and home offices for parents who are working from home. Many planning their retirement are sticking to the East Coast in hope to live out their golden years. According to the USPS, more than 36 million address changes were processed in 2019.
What to expect from the housing market
Some took advantage of record-low interest rates to become homeowners. Renters are becoming buyers, and those who left big cities for smaller towns during the pandemic aren’t returning. Many recognize the value of having more space, a big yard, a place for kids to play, and home offices for parents who are working from home. Many planning their retirement are sticking to the East Coast in hope to live out their golden years.
According to recent findings, states like Minnesota, New Jersey, and Texas are slowly replacing New York, California, and Florida. These states are affordable for living costs, the rents are cheaper, and if you’re lucky, you can work remotely from the comfort of your own home.
CITIES THAT LOST AND GAINED
THE MOST NEW RESIDENTS DURING 2020
Six out of ten cities that had the highest net gain of movers during 2020 were in Texas. The Lone Star State has many attractive features, such as a lower cost of living, a variety of smaller towns, and plenty of open space. Texas has experienced an inflow of more than 500,000 recent new residents, with the majority of them coming from California and Florida.
According to the USPS data, big cities lost the most inhabitants in the first six months of the pandemic. Looking closely into what cities experienced the highest net losses, some of the country’s most populous areas like Manhattan, Brooklyn, Chicago, and San Francisco made the top of the list.
Many analyses show that migration patterns from New York City have been a long-term trend, accelerated by the opportunity to work remotely over the past year.
Some took advantage of record-low interest rates to become homeowners. Renters are becoming buyers, and those who left big cities during the pandemic aren’t coming back. Many recognize the value of having more space, a big yard, a place for kids to play, and home offices for parents who are working from home.
SMALLER CITIES AND SUBURBS PEOPLE ARE MOVING TO
| San Francisco, CA | New York & Brooklyn, NY | Los Angeles, CA | Chicago, IL |
| Berkley Oakland Daly City San Mateo | Bronx Long Island City Staten Island Hoboken Jersey City | Glendale Pasadena North Hollywood Santa Monica Inglewood Long Beach | Evanston Park Ridge Naperville Arlington Heights Oak Lawn |
STATES THAT LOST AND GAINED
THE MOST MOVERS IN 2020
States such as Minnesota, New Jersey, and Texas are slowly replacing New York, California, and Florida according to recent findings. These states are affordable for living costs, the rents are cheaper, and if you’re lucky, you can work remotely from the comfort of your own home.
Moving trends have evolved, to say the least! It was once a dream of many to live in the most bustling metropolitan areas like Los Angeles and New York, but times have certainly changed.
It is projected that 56% of Americans are planning to move in 2021, a significant increase from last year where 35% of Americans relocated. Citizens are searching for more space, more affordable living costs, and less populated areas in suburbs or smaller cities.
Zip Moving & Storage has helped many customers move to their new homes, short and long distances. If you’re planning to move, we’re here to assist you with planning, packing, storing, and moving to ensure a smooth and seamless transition to your new destination.
Moving trends have evolved!
Many once dreamed of living in the most bustling metropolitan areas like Los Angeles and New York, but times have certainly changed. Citizens are searching for more space, affordable living costs, and less populated regions.
Zip Moving & Storage has helped many customers move to their new homes, short and long distances. We’re here to assist you with planning, packing, storing, and moving, ensuring a smooth and seamless transition to your new destination if you’re planning to move.
