Jan. 24. A southern migration has been steadily unfolding across the US—driven by the search for more relaxed housing markets—and the Carolinas are the beneficiaries—depending on your point of view.

In 2023, 46 percent of net interstate migration flowed into the South, with another 25 percent heading west, according to StorageCafe’s new migration study based on the latest US Census data.

The top states gaining residents — Texas, Florida, the Carolinas and Georgia — welcomed a combined net influx of over 500,000 people in 2023.

The Charlotte Regional Business Alliance says Charlotte’s population will increase by more than 50 percent in 25 years. By 2050 our population will explode from 3 million to 4.6 million people.

Housing: It’s complicated

Housing affordability is shaping migration trends. Home prices in nine of the top 10 states attracting new residents are 9% to 59% lower than those in their primary source states — an important factor, as nearly four in 10 movers achieve homeownership within a year of relocating.

North Carolina welcomed over 13 newcomers per 1,000 residents, fueling a 10 percent home price increase over the past year. Over the past five years prices have increased by 60 percent.

Job hubs and remote work

Gen Z is quickly catching up to millennials as a key driver of state-to-state relocations, with both generations accounting for nearly 30 percent of relocations in 2023. While Gen Z is drawn to states like the Carolinas, Indiana and North Dakota for their laid-back lifestyles, they’re also heading to job hubs like Washington, D.C., and Colorado.

As remote work continues to reshape the workforce, it is increasingly contributing to interstate migration, with 20 percent of long-distance movers working remotely—significantly higher than the 14 percent of the general population. Top destinations for remote workers include Connecticut, Colorado, Vermont and Maine alongside Washington, DC.

More info

For a comprehensive analysis, access the full report here: https://www.storagecafe.com/blog/us-interstate-migration-trends/