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Article first appeared: https://www.realtor.com/news/trends/top-5-states-americans-moved-from/
Uprooting your life to move to another state is a major undertaking—but, in 2024, five states saw an influx of residents doing just that.
The states with the highest number of outbound moves this year were Louisiana, California, Illinois, South Dakota, and New York, according to Atlas Van Lines.
Why the mass exodus?
In Louisiana, the No. 1 reason for residents leaving was lack of jobs and job opportunities, according to the Shreveport Times.
In November, the unemployment rate in Louisiana stood at 4.3%, rising by 0.3 percentage points compared with the same time last year. This was just above the national rate of 4.2%.
Additionally, a study conducted by the Life Extension Foundation ranked Louisiana as the fourth-worst state in the U.S. for life expectancy—which could be another reason people bolted from the state.
The cost of living is another major factor driving relocations, particularly from California and New York.
The Golden State ranked second highest for the cost of living in the U.S., while the Empire State came in fifth, according to a recent study.
The high cost of housing in Los Angeles is out of reach for many people, according to Jameson Tyler Drew, president of Anubis Properties.
Property taxes can push into the five figures for new homebuyers there, he says.
“Compared to other metro areas, L.A. is one of the most expensive places to live and raise a family,” he adds.
“Full-time day care can cost the same as a mortgage payment per child in the city of L.A., so many families seek their futures elsewhere.”
Taxes were another driving factor behind people relocating out of state. High taxes are consistently the No. 1 reason people consider leaving Illinois, according to Illinois Policy.
The state also ranks as the least tax-friendly in the country, with state and local taxes representing about 13% of a median family’s income, according to a study by MoneyGeek.
“Illinois is a mess—the problem is overspending that put the state in such a hole that taxing is the only way out. That has put it in a trap of losing residents,” says Jeff Lichtenstein, CEO of Echo Fine Properties, who relocated to Florida from his hometown of Chicago.
Weather is another major factor influencing relocation. For example, South Dakota’s harsh winters were ranked as the fourth harshest in the United States, and it is also one of the windiest states in the nation.
On a positive note, the states with the highest rates of outbound moves provide more housing opportunities for homebuyers.
Largest metro: New Orleans-Metairie
Median listing price: $325,000
Monthly house payment: $1,714
Recommended household income: $68,564
(Realtor.com)
Largest metro: Los Angeles-Long Beach-Anaheim
Median listing price: $1,094,000
Monthly house payment: $5,770
Recommended household income: $230,797
(Realtor.com)
Largest metro: Chicago-Naperville-Elgin
Median listing price: $347,450
Monthly house payment: $1,833
Recommended household income: $73,300
(Realtor.com)
Largest metro: Sioux Falls
Median listing price: $369,975
Monthly house payment: $1,951
Recommended household income: $78,052
(Realtor.com)
Largest metro: New York-Newark, NJ
Median listing price: $749,000
Monthly house payment: $3,950
Recommended household income: $158,014
Echo Fine Properties, winner of Best Brokerage of the Palm Beaches in 2020, 2021 and 2022, is located in Palm Beach Gardens, Florida. We are a family-owned local brokerage that prides itself on having the finest full time luxury real estate agents who know the area backward and forward. Each agent is hand selected to join us for their knowledge of the area including golf club communities, gated communities, equestrian and ranch estates, condominiums, and waterfront and boating estates. Echo is unique in real estate in that our company pays for all marketing, advertising, and all support which is handled in-house. WE PAY, which lets the agent concentrate on our customers. Unlike other firms, agents never have to compromise the marketing budget. Our Home ECHOnomics Guarantee offers an unheard of 57-promises. This website consists of 5 separate MLS feeds, giving 100% accuracy ranging from Miami to Fort Lauderdale to Palm Beach to Martin County.
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