According to the National Association of Realtors (NAR), the 25 US states whose population increased in 2022 include Florida, Texas, North Carolina, and South Carolina. NAR’s analysis shows that Florida is the state with the largest in-migration: approximately 319,000 people moved there last year.
This influx of residents is beneficial to US states with the best migration performance, as it contributes to the development of the economy and expands the tax base. Nadia Evangelou, Senior Economist and Director of Real Estate Research at NAR, emphasized that the states attracting the greatest number of newcomers share several traits, such as the labour market growth rates (which are even higher now than during the pandemic) and housing affordability.
The expert notes that states attractive to migrants have low taxes and a wonderful climate. There is, however, another factor that makes them desirable. It is important that the labour market rebound after the pandemic. The economy of these states has not only recovered the lost jobs but also increased their number by 5% compared to 2020.
Analysts say that migration of the population helps to see the situation clearly. People are leaving states with high taxes and high living costs, choosing regions with low taxes and smaller current expenses.