Population Trends - Where People Are Moving To & Away From Affects Investing

[Bob P.]

I tend to like to invest where there are jobs and where people are moving to

********************

Ranked: Population Changes in U.S. States

A demographic reshuffling is taking place across the U.S., with states in the Northeast and the West seeing shrinking populations. Texas added nearly half a million people, a 1.5% gain, or three times the national average.

	2023	2022-2023	% Population
State	Population	Change	Change (2022–23)
South Carolina	5,373,555	90,600	1.71%
Florida	22,610,726	365,205	1.64%
Texas	30,503,301	473,453	1.58%
Idaho	1,964,726	25,730	1.33%
North Carolina	10,835,491	139,526	1.30%
Delaware	1,031,890	12,431	1.22%
District of Columbia**	678,972	8,023	1.20%
Tennessee	7,126,489	77,513	1.10%
Utah	3,417,734	36,498	1.08%
Georgia	11,029,227	116,077	1.06%
South Dakota	919,318	9,449	1.04%
Arizona	7,431,344	65,660	0.89%
Montana	1,132,812	9,934	0.88%
Oklahoma	4,053,824	34,553	0.86%
Arkansas	3,067,732	21,328	0.70%
Alabama	5,108,468	34,565	0.68%
North Dakota	783,926	5,014	0.64%
Colorado	5,877,610	36,571	0.63%
Nevada	3,194,176	16,755	0.53%
Nebraska	1,978,379	10,319	0.52%
Maine	1,395,722	6,384	0.46%
Indiana	6,862,199	29,925	0.44%
Wyoming	584,057	2,428	0.42%
Virginia	8,715,698	36,599	0.42%
Minnesota	5,737,915	23,615	0.41%
Washington	7,812,880	28,403	0.36%
Wisconsin	5,910,955	20,412	0.35%
Kentucky	4,526,154	14,591	0.32%
New Jersey	9,290,841	30,024	0.32%
Missouri	6,196,156	18,988	0.31%
Massachusetts	7,001,399	18,659	0.27%
Maryland	6,180,253	16,272	0.26%
Iowa	3,207,004	7,311	0.23%
Connecticut	3,617,176	8,470	0.23%
New Hampshire	1,402,054	3,051	0.22%
Ohio	11,785,935	26,238	0.22%
Rhode Island	1,095,962	2,120	0.19%
Kansas	2,940,546	3,830	0.13%
Vermont	647,464	354	0.05%
New Mexico	2,114,371	895	0.04%
Michigan	10,037,261	3,980	0.04%
Mississippi	2,939,690	762	0.03%
Alaska	733,406	130	0.02%
			Loss
Pennsylvania	12,961,683	-10,408	-0.08%
Oregon	4,233,358	-6,021	-0.14%
California	38,965,193	-75,423	-0.19%
West Virginia	1,770,071	-3,964	-0.22%
Illinois	12,549,689	-32,826	-0.26%
Hawaii	1,435,138	-4,261	-0.30%
Louisiana	4,573,749	-14,274	-0.31%
Puerto Rico*	3,205,691	-14,422	-0.45%
New York	19,571,216	-101,984	-0.52%

[John Underwood]

33 people per day are moving to Greenville SC.

[Connor Dunham]

Hey Bob, population change includes net birth/deaths as well and is not migration, which can confound the directionality of growth.

Alaska for example has a birth rate above replacement rate, but barely shows any growth because net migration is negative.

Quote from @Bob P.:

I tend to like to invest where there are jobs and where people are moving to

********************

Ranked: Population Changes in U.S. States

A demographic reshuffling is taking place across the U.S., with states in the Northeast and the West seeing shrinking populations. Texas added nearly half a million people, a 1.5% gain, or three times the national average.

	2023	2022-2023	% Population
State	Population	Change	Change (2022–23)
South Carolina	5,373,555	90,600	1.71%
Florida	22,610,726	365,205	1.64%
Texas	30,503,301	473,453	1.58%
Idaho	1,964,726	25,730	1.33%
North Carolina	10,835,491	139,526	1.30%
Delaware	1,031,890	12,431	1.22%
District of Columbia**	678,972	8,023	1.20%
Tennessee	7,126,489	77,513	1.10%
Utah	3,417,734	36,498	1.08%
Georgia	11,029,227	116,077	1.06%
South Dakota	919,318	9,449	1.04%
Arizona	7,431,344	65,660	0.89%
Montana	1,132,812	9,934	0.88%
Oklahoma	4,053,824	34,553	0.86%
Arkansas	3,067,732	21,328	0.70%
Alabama	5,108,468	34,565	0.68%
North Dakota	783,926	5,014	0.64%
Colorado	5,877,610	36,571	0.63%
Nevada	3,194,176	16,755	0.53%
Nebraska	1,978,379	10,319	0.52%
Maine	1,395,722	6,384	0.46%
Indiana	6,862,199	29,925	0.44%
Wyoming	584,057	2,428	0.42%
Virginia	8,715,698	36,599	0.42%
Minnesota	5,737,915	23,615	0.41%
Washington	7,812,880	28,403	0.36%
Wisconsin	5,910,955	20,412	0.35%
Kentucky	4,526,154	14,591	0.32%
New Jersey	9,290,841	30,024	0.32%
Missouri	6,196,156	18,988	0.31%
Massachusetts	7,001,399	18,659	0.27%
Maryland	6,180,253	16,272	0.26%
Iowa	3,207,004	7,311	0.23%
Connecticut	3,617,176	8,470	0.23%
New Hampshire	1,402,054	3,051	0.22%
Ohio	11,785,935	26,238	0.22%
Rhode Island	1,095,962	2,120	0.19%
Kansas	2,940,546	3,830	0.13%
Vermont	647,464	354	0.05%
New Mexico	2,114,371	895	0.04%
Michigan	10,037,261	3,980	0.04%
Mississippi	2,939,690	762	0.03%
Alaska	733,406	130	0.02%
			Loss
Pennsylvania	12,961,683	-10,408	-0.08%
Oregon	4,233,358	-6,021	-0.14%
California	38,965,193	-75,423	-0.19%
West Virginia	1,770,071	-3,964	-0.22%
Illinois	12,549,689	-32,826	-0.26%
Hawaii	1,435,138	-4,261	-0.30%
Louisiana	4,573,749	-14,274	-0.31%
Puerto Rico*	3,205,691	-14,422	-0.45%
New York	19,571,216	-101,984	-0.52%

[Jimmy Lieu]

Quote from @Bob P.:

I tend to like to invest where there are jobs and where people are moving to

********************

Ranked: Population Changes in U.S. States

A demographic reshuffling is taking place across the U.S., with states in the Northeast and the West seeing shrinking populations. Texas added nearly half a million people, a 1.5% gain, or three times the national average.

	2023	2022-2023	% Population
State	Population	Change	Change (2022–23)
South Carolina	5,373,555	90,600	1.71%
Florida	22,610,726	365,205	1.64%
Texas	30,503,301	473,453	1.58%
Idaho	1,964,726	25,730	1.33%
North Carolina	10,835,491	139,526	1.30%
Delaware	1,031,890	12,431	1.22%
District of Columbia**	678,972	8,023	1.20%
Tennessee	7,126,489	77,513	1.10%
Utah	3,417,734	36,498	1.08%
Georgia	11,029,227	116,077	1.06%
South Dakota	919,318	9,449	1.04%
Arizona	7,431,344	65,660	0.89%
Montana	1,132,812	9,934	0.88%
Oklahoma	4,053,824	34,553	0.86%
Arkansas	3,067,732	21,328	0.70%
Alabama	5,108,468	34,565	0.68%
North Dakota	783,926	5,014	0.64%
Colorado	5,877,610	36,571	0.63%
Nevada	3,194,176	16,755	0.53%
Nebraska	1,978,379	10,319	0.52%
Maine	1,395,722	6,384	0.46%
Indiana	6,862,199	29,925	0.44%
Wyoming	584,057	2,428	0.42%
Virginia	8,715,698	36,599	0.42%
Minnesota	5,737,915	23,615	0.41%
Washington	7,812,880	28,403	0.36%
Wisconsin	5,910,955	20,412	0.35%
Kentucky	4,526,154	14,591	0.32%
New Jersey	9,290,841	30,024	0.32%
Missouri	6,196,156	18,988	0.31%
Massachusetts	7,001,399	18,659	0.27%
Maryland	6,180,253	16,272	0.26%
Iowa	3,207,004	7,311	0.23%
Connecticut	3,617,176	8,470	0.23%
New Hampshire	1,402,054	3,051	0.22%
Ohio	11,785,935	26,238	0.22%
Rhode Island	1,095,962	2,120	0.19%
Kansas	2,940,546	3,830	0.13%
Vermont	647,464	354	0.05%
New Mexico	2,114,371	895	0.04%
Michigan	10,037,261	3,980	0.04%
Mississippi	2,939,690	762	0.03%
Alaska	733,406	130	0.02%
			Loss
Pennsylvania	12,961,683	-10,408	-0.08%
Oregon	4,233,358	-6,021	-0.14%
California	38,965,193	-75,423	-0.19%
West Virginia	1,770,071	-3,964	-0.22%
Illinois	12,549,689	-32,826	-0.26%
Hawaii	1,435,138	-4,261	-0.30%
Louisiana	4,573,749	-14,274	-0.31%
Puerto Rico*	3,205,691	-14,422	-0.45%
New York	19,571,216	-101,984	-0.52%

Awesome data here! As I tell a lot of my out of state real estate clients who invest in Columbus Ohio - you should only buy in real estate markets where the population is growing, companies are moving, and there's tons of appreciation potential! I definitely recommend Columbus Ohio because there's still so many deals that hit the 1% rule, positive cash flowing, and quickly appreciation! Great market to be in!

[Marcus Auerbach]

This is an old statistic and a few things have changed. Look at the latest U-Haul migration report. Chicago/IL is growing again. For many years we have seen people move from Chicago to Milwaukee, very few the other way. 

Wisconsin is currently #17 in net migration and we work a lot with relocation clients. When I ask for reasons I get cost of living, quality of live, moderate climate, fresh water access, no natural disasters and moving back to where they were from.

From what I can see the trend to the Midwest is steadily increasing, but by no means as big as moving south.

[Bob P.]

Quote from @Marcus Auerbach:

This is an old statistic and a few things have changed. Look at the latest U-Haul migration report. Chicago/IL is growing again. For many years we have seen people move from Chicago to Milwaukee, very few the other way. 

Wisconsin is currently #17 in net migration and we work a lot with relocation clients. When I ask for reasons I get cost of living, quality of live, moderate climate, fresh water access, no natural disasters and moving back to where they were from.

From what I can see the trend to the Midwest is steadily increasing, but by no means as big as moving south.

Your comment "This is an old statistic" Maybe I'm mistaken but they haven't published 2023 - 2024 since 2024 isn't over yet, But, if you have something that covers the country for all of 2024, I'd love to see it. Sometimes I get so busy helping people buy properties I lose track of time. ;-)

[Marcus Auerbach]

You are right @Bob P.. Must have read it before my coffee kicked in...