Study: Florida Top State for In-Migration From Other States
CHARLOTTE, N.C. – Nov. 5, 2018 – LendingTree’s latest State Migration Study discovered that 12.1 percent of homebuyers across the country plan to change states and most plan to head south – and the largest number prefer Florida. It’s the top destination for residents of 15 out of 50 U.S. states, most of which are located up and down the East Coast.
To do the study, LendingTree reviewed more than 2 million new-purchase mortgage loan requests for primary residences in all 50 states in 2018 through mid-November to find what percentage of all requests were from residents looking to move outside of their current state and where their destination would be. The results details the most popular new locations for homeowners in each state, along with the states with the highest percentage of requests to move to other parts of the country.
Of all purchase mortgage requests during the study’s period, 9.1 percent were for Florida, LendingTree reports. For out-of-state movers, 12.4 percent of requests were for Florida. The Sunshine State has a long history of bringing in visitors and new residents, particularly retirees.
Texas residents love the Lone Star State. Texas had the fewest percentage of residents looking to move out of state – only 6.6 percent – but Florida was also the top destination for the few considering a longer ride in a moving van. Texas was also the top move-to state for residents of six other states.
However, Florida also had fewer residents looking to move away. After Texas, only 8.6% of Michigan residents are considering such a move – but again, their top choice is Florida.
For the 8.9 percent of Florida residents considering an out-of-state move, it won’t be a long drive: 13.8 percent listed their top preferred state as Georgia.
Alaska has the most residents looking to move away – 24.8 percent. The top destination out of Alaska was Washington state.
Most people looking to move out of state don’t want to go far – more than half of them chose a state next door. But if they are looking to move cross-country, chances are it’s to Florida. Of the 20 states where the residents’ most popular new location doesn’t border their current state, 13 were Florida.
States that list Fla. as their No. 1 move-to destination
- New York: 21.3% want to move; 21.5% of them prefer Florida
- New Jersey: 17.5% want to move; 21.8% of them prefer Florida
- Connecticut: 17.3% want to move; 23.9% of them prefer Florida
- Vermont: 17.2% want to move; 19.6% of them prefer Florida
- Illinois: 14.2% want to move; 14.2% of them prefer Florida
- .Maine: 11.3% want to move; 21.0% of them prefer Florida
- Wisconsin: 10.6% want to move; 15.6% of them prefer Florida
- 8.Kentucky: 10.5% want to move; 15.4% of them prefer Florida
- Tennessee: 10.5% want to move; 15.8% of them prefer Florida
- Indiana: 10.0% want to move; 15.8% of them prefer Florida
- Alabama: 9.3% want to move; 22.4% of them prefer Florida
- Georgia: 9.2% want to move; 26.5% of them prefer Florida
- Ohio: 9.1% want to move; 20.7% of them prefer Florida
- Michigan: 8.6% want to move; 22.0% of them prefer Florida
- Texas: 6.6% want to move; 10.1% of them prefer Florida
Reprinted with permission Florida Realtors. All rights reserved.