Back in February 2023, CBS News reported the results of the Brookings Institution research on migration numbers, pronouncing the long-term trend of migration as being in decline. According to the Brookings findings, from 2021 to 2022, only about 9% of Americans moved, ranging from local to long-distance moves. That’s pretty low when compared to about 20% of Americans who moved each year from the 1940s to 1960s.
One of the reasons, researchers offered, was that it was easier to move during the decades when more households were single-earner homes vs. double-earner households today. At the same time, long-distance moves, including both cross-country and interstate moves, have increased in recent years, the Brookings study pointed out.
The results of a study conducted and published by Architectural Digest in the summer of 2023 also prove this to be true, even if you look at data during the peak years of the coronavirus pandemic. According to the U.S. Census Bureau’s American Community Survey, the study points out, 13.7% of Americans moved in 2019 compared to 12.8% in 2021.
At the same time, there’s also evidence this downward trend is changing and the Americans of today are restless. The research team at Architectural Digest surveyed 1,000 individuals on their moving plans for 2023 and what would compel them to move in the future. It found that roughly 29% plan to move in 2023, and another nearly 26% aspire to move but have no plans to do so.
According to the U.S. Census April 2023 report that looked at the 2019-2021 data:
According to the same study, about 39% have relocated or plan to in 2023, driven by affordability, jobs and safety concerns. Gen Z (28%) and baby boomers (18%) would be willing to move to communities that share their beliefs and values. More than 30% of younger generations (Gen Z and millennials) want to relocate to a safer area. Wanting to move to achieve more affordable living is another big reason across generations.
A “2023 Study: Where, How and Why Are Americans Moving This Year?” by HireAHelper determined that 40% of the people surveyed planned on moving at some point in 2023, and more than half (55%) of those not moving this year would move if they had the means. The top reasons were financial, such as inflation, cost of living and housing unaffordability (38%); family (30%), and wanting more space/a bigger house (25%). Climate change was another big consideration for many Americans (15%).
The Architectural Digest and HireAHelper studies show the following:
Unsurprisingly, affordability is the number one reason people are willing to move. Out of everyone surveyed by Architectural Digest, across all generations, about 85% cited this as their top reason. Nearly 42% of respondents reported that finding an area with more affordable housing or a lower cost of living would compel them to move.
Here are the top nine reasons people would want to move in descending order of popularity:
HireAHelper study results intersect with the reasons cited above, but not entirely. The top reasons to move for this study were:
Studies showed that Americans are fully aware of the downsides of moving. Several moving deterrents were cited, including for people who want to move but don’t plan to due to these top six reasons:
In the summer. Each season has its pros and cons, but typically, it’s considered that the best time to move is mid-September through April. Summer could be an ideal time if you are selling your home since demand is highest and you may get a higher price. Also, if you are moving with children then this season is ideal since they won’t be in school.
Article from Moving.com