News

close video Naftali: South Florida demand is strong, but construction costs are up

Naftali Group chairman and CEO Miki Naftali discusses the insurance cost as Hurricane Helene makes its way to the Gulf Coast on The Claman Countdown.

There's a southern migration happening in the U.S. right now, and it's not because of the weather.

The National Association of Realtors' 2024 Migration Trends report released this week shows Southern states dominated in attracting the most people to move within their borders last year, and only 1% of those who moved said they did so because of climate-related reasons, according to its analysis of U.S. Census Bureau data.

The National Association of Realtors’ latest Migration Trends report shows Americans are flocking to Southern states. (Smith Collection/Gado/Getty Images / Getty Images)

The study found 42% of the Americans who moved to a different state last year cited housing reasons, while 26% did so for family reasons and 16% jumped borders for employment reasons. Only 2% said they moved due to return-to-office policies.

NEW REPORT SHOWS HOW FAR NYC RENT WILL GO TOWARD BUYING A HOME IN THESE US CITIES

Here are the top states people moved to in 2023:1. Florida 372,870 net migration

A view of Naples Municipal beach in Florida. More Americans moved to Florida last year than any other state. (Paul Harris/Getty Images / Getty Images) 2. Texas 315,301 net migration

The downtown skyline is seen on April 11, 2023, in Austin, Texas. (Brandon Bell/Getty Images / Getty Images) 3. North Carolina 126,712 net migration

A view of downtown Raleigh, North Carolina. (iStock / iStock) 4. South Carolina 91,853 net migration

Beach homes look out onto the blue waters of Myrtle Beach, South Carolina. (Edwin Remsberg/VWPics/Universal Images Group via Getty Images / Getty Images) 5. Georgia 88,325 net migration

The skyline of Atlanta, the capital of Georgia. (iStock / iStock)

Tennessee came in at No. 6 with a net migration of more than 76,000, followed by Arizona (57,814), Alabama (36,128) and Oklahoma (31,967). Ohio rounded out the top 10 and was the only state north of the Mason-Dixon Line to land on it, after drawing in a net migration of 28,718.

According to the Census Bureau, the South, the nation's most populous region, is the only region to have maintained population growth throughout the COVID-19 pandemic. The growth is largely attributed to migration, with 706,266 people added via net domestic migration.

AMERICANS NEED SIX-FIGURE SALARIES TO AFFORD A HOUSE IN MOST CITIES, NEW ECONOMICS REPORT SHOWS

California, the nation's most populous state, was the biggest loser of 2023, with the state shedding 75,423 people. close video People are leaving California, and it’s ‘going bust’: Robert Kiyosaki

The Rich Dad Company co-founder weighs in on California’s failures and why entrepreneurship is important amid the tech evolution.

California saw its first-ever population decline in 2020 when the state imposed rigid lockdowns during the COVID-19 pandemic. From January 2020 to July 2022, the state lost well over half a million people, with the number of residents leaving surpassing those moving in by almost 700,000.

In 2023, Hawaii (-4,261), Illinois (-32,826), Louisiana (-14,274), New York (-101,984), Oregon (-6,021), Pennsylvania (-10,408), and West Virginia (-3,964) also all saw their populations fall.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Across all generations, the top reasons for why Americans chose to move in 2023 include: to have more affordable housing or lower cost of living; live in a safer area; relocate for a new job; be closer to friends and family; and live in an area more aligned with their beliefs.

FOX News' Nikolas Lanum contributed to this report.

Articles You May Like

Trump Doesnt Need Congress To Make Abortion Effectively Unavailable
Ozempic and Wegovy May Provide Strong Relief from Osteoarthritis Knee Pain
She Lived with These Parkinsons Symptoms for Over a Decade Before Diagnosis
President Biden pardons son Hunter after pledging that he wouldnt
Mexico’s president teases what could come in response to Trump’s sweeping plan