People were on the move in 2012 and apparently the most popular place for them to move to was Pittsburgh, PA., according to the 2012 Top US Growth Cities Report recently released by U-Haul International. The Steel City topped the list of 30 metro areas selected with a 9.04% population growth, based on data collected by U-Haul from over 1.6 million one-way truck rentals during a recent 12 month period.
The cities chosen for the list had more than 5,000 families moving in or out of the area during that time. “Growth cities were then determined by calculating the percentage of inbound moves vs. outbound moves for each area,” said John Taylor, president of U-Haul International, Inc. Other cities in the U-Haul top 10 included:
- Henderson, Nev. (7.54% growth)
- Austin, Texas (7.30%)
- Reno, Nev. (7.15%)
- San Francisco, Calif. (6.82%)
- Jersey City, N.J. (5.16%)
- Raleigh, N.C. (5.06%)
- Nashville, Tenn. (4.28%)
- Columbus, Ohio (4.15%)
- Tacoma, Wash. (4.09%)
In another migration study of moving patterns put together by Atlas Van Lines for 2012, the nation’s population was found to prefer relocating to Southwestern or mid-Atlantic coastal states. According to the Atlas study, the highest percentage of interstate moves that were inbound last year were to Washington, D.C., followed by North Dakota and North Carolina. The highest percentage of interstate outbound moves were from Wyoming, Nebraska and New York.
Over the 10 year period (2002 – 2012), the moving company has found the highest percentage of interstate inbound moves have been to Washington, D.C., followed by Alaska and New Mexico. By comparison, the highest percentage of interstate outbound moves over those same years have been from New York, New Jersey and Ohio.
The states with the highest total number of interstate moves (inbound and outbound combined) during the 10 year period studied have been California, Florida and Texas, three states that have been consistently in RealtyTrac’s top 10 foreclosure totals since the housing crisis began in earnest back in 2007.
Likewise, the states/metro areas with the most consistent number of inbound moves over the past decade have been Alaska, North Carolina and Washington, D.C., while those with the most consistent outbound moves during the same period were New York, Indiana, New Jersey and Ohio.
After years of recessionary conditions, more people starting to move around the country most likely means the general public is gaining confidence in a rebounding US economy.
Migration patterns and population growth are just a few useful indicators to consider when looking for your next real estate investment to purchase.