While people are generally less keen to move than they once were, certain groups are changing the demographics of certain states in a noticeable way.
When it comes to America’s domestic migration, several factors play a disproportionate role. First, there are retirees, who generally move south with the birds in order to have access to better weather in retirement. Baby boomers heading into retirement are a significant factor in states’ demographics, and they are often leaving wealthier states with higher costs of living for ones where they can spend less to live happily. On the flip-side, many boomers are not retiring, but instead moving with the young towards bustling economic hubs, such as Colorado.
When it comes to Americans’ favorite destinations, Business Insider compiled a list of the top three, and made note of the top reasons. The figures for population increases are from 2016-2017.
- Florida: 145,094 people. Includes retirees and those who are attracted by a lack of state income taxes and a sturdy economy.
- Arizona: 98,843 people. The second-fastest growing economy in the US, low taxes, and a lot of retirees who like the weather.
- North Carolina: 73,545 people. Retirees love the nature, weather, and low cost of living.
When it comes to the places people are leaving, we have a similarly simple picture. The states which people are leaving the fastest are New York, California, an Illinois, in that order. These three states are linked together by a shared economic reality: high taxes, high real estate prices, and a high cost of living.
