United Van Lines said in 2022, two PIA Western Alliance States — Oregon and New Mexico — were among the top-10 destination states for people on the move. According to economist, Michael Stoll of the University of California, people are moving from larger cities to smaller ones and are doing so for career changes and family issues.
Stoll said the mover’s study shows people are now “moving from bigger to smaller cities, mostly in the South, some in the West, but even an increase of migration to the Northeast, which has not been typical. We’re also seeing younger millennials migrating to vibrant, metropolitan economies, like Washington, D.C. and Portland, Oregon.”
United Van Lines says most of the movers are baby boomers and those of Generation X (born 1965 to 1980). For boomers, retirement is a driver, however, the company says just 20.39% of baby boomers who relocated did so for retirement reasons.
Most people who moved — United Van Lines said — did so for a new job, or from being transferred. That number for those reasons was 33%. However, United Van Lines said the number of relocations for a job has been dropping the last five years.
This kind of information is critical to you — the independent insurance agent of the PIA — because it helps determine immediate and future needs for those moving into different areas.
Here are the top-10 states:
1. Vermont
- Percent of inbound moves in 2022: 76.9%
- Percent of moves outbound in 2022: 23.1%
- Top reason for the relocation: Job
2. Oregon
- Percent of inbound moves in 2022: 67.1%
- Percent of moves outbound in 2022: 32.9%
- Top reason for the relocation: Job
3. Rhode Island
- Percent of inbound moves in 2022: 65.5%
- Percent of moves outbound in 2022: 34.5%
- Top reason for the relocation: Job
4. South Carolina
- Percent of inbound moves in 2022: 61%
- Percent of moves outbound in 2022: 39%
- Top reason for the relocation: Retirement
5. Delaware
- Percent of inbound moves in 2022: 60.7%
- Percent of moves outbound in 2022: 39.3%
- Top reason for the relocation: Retirement
6. North Carolina
- Percent of inbound moves in 2022: 60.6%
- Percent of moves outbound in 2022: 39.4%
- Top reason for the relocation: Family
7. Washington D.C.
- Percent of inbound moves in 2022: 59.2%
- Percent of moves outbound in 2022: 40.8%
- Top reason for the relocation: Job
8. South Dakota
- Percent of inbound moves in 2022: 58.5%
- Percent of moves outbound in 2022: 41.5%
- Top reason for the relocation: (Tie) family, job and retirement
9. New Mexico
- Percent of inbound moves in 2022: 58.4%
- Percent of moves outbound in 2022: 41.6%
- Top reason for the relocation: Retirement
10. Alabama
- Percent of inbound moves in 2022: 58%
- Percent of moves outbound in 2022: 42%
- Top reason for the relocation: Family
Source link: PropertyCasualty360.com — https://bit.ly/3HbRiL2
