Florida Realtors®: Census Data Shows Fla. Had Highest Net Migration Among States
ORLANDO, Fla. – In 2024, Realtors® reported that their recent clients chose to move to a specific area primarily to be closer to family and friends (30%) and to get more home for the money (21%), according to a new report from the National Association of Realtors®.
NAR's 2024 Migration Trends report analyzes the drivers and motivators of Realtors' clients who move to different areas nationwide to understand and measure why people are moving to certain areas, while available U.S. Census Bureau data provides information surrounding where and in what volumes Americans are moving. The NAR report also breaks down regional differences by movers to the Midwest, Northeast, South and West.
U.S. Census Bureau data from 2023 finds the top 20 states with the highest net migration include Florida (372,870), Texas (315,301), North Carolina (126,712), South Carolina (91,853), Georgia (88,325), Tennessee (76,471), Arizona (57,814), Alabama (36,128), Oklahoma (31,967), Ohio (28,718), Indiana (22,468), Arkansas (22,202), Virginia (21,132), Idaho (20,053), Wisconsin (19,301), Colorado (19,167), Missouri (19,023), Kentucky (16,592), Washington (13,643) and Nevada (12,908).
Forty-six percent of Realtors’ customers moved to the South in 2024, followed by 25% to the West, 18% to the Midwest and 11% to the Northeast. Conversely, 33% of respondents’ clients moved from the South, 30% from the West, 22% from the Midwest and 15% from the Northeast.
Movers to the West were driven more than others by getting more house for the money (24%), movers to the South were more driven than others by lower or more favorable tax rates (19%) and movers to the Northeast were more motivated than others to move closer to their job location (22%).
After stating that being closer to family and friends (30%) and to get more home for the money (21%) were at the top among all reasons for choosing a specific area, the secondary reasons Realtors’ recent customers cited for moving to a specific area include the area having lower or more favorable taxes (16%), it being a safer area with less crime (16%) and being closer to their work location (15%).
When asked to identify the one primary reason for choosing to move to a specific area, the most common driver among Realtors’ recent customers was to be closer to family and friends at 23%, followed by getting more house for the money (12%) and being closer to work (9%).
Consistent with general seasonal market trends, respondents’ clients were most likely to have begun their home purchase transaction in June (21%), May (18%) or April (15%).
Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research, and legislative representation to 238,000 members in 50 boards/associations. Florida Realtors® Newsroom website is available at floridarealtors.org/newsroom.