More People Moved to Virginia Than Out of the State Last Year
November 6, 2024
Each year since 2005, the U.S. Census Bureau determines whether respondents of its surveys lived in the same residence a year ago. If people have moved, then the location of their previous residence is collected. Based on this data, the Census Bureau estimates the migration flows between different states. The latest data we have is for migration flows between 2022 and 2023. We have key takeaways from the migration data for Virginia to understand the population change that directly affects the demand for housing in our residential market.
More people were leaving the state and moving to other parts of the country since 2019. However, in 2023, 276,161 people moved to Virginia from different states (including the District of Columbia and Puerto Rico) across the country. While, at the same time, 253,240 people moved out of Virginia to other parts of the United States. This net positive migration flow is a reversal from the trend we’ve been seeing in Virginia over the past four years.
Maryland, Florida, North Carolina, California, and New York were the top five states from where people moved to Virginia. At the same time, for prior Virginia residents, Florida, North Carolina, Maryland, California, and Texas were the top destinations for a move. The highest levels of net migration inflows for Virginia were with Maryland, California, and the District of Columbia. On the other hand, the highest levels of net migration outflows for Virginia were with Colorado, Florida, and Nebraska.
As return-to-office mandates are being implemented in workplaces across the country, we are seeing a change in people’s decision-making about choosing where to live. People are moving or returning to major metro areas that have more job opportunities. Since Virginia is home to many areas with a variety of workplace options, it could be an explanation for the reversal in trend we are seeing in Virginia’s migration flow data.
For more information on housing, demographic and economic trends in Virginia, be sure to check out Virginia REALTORS® other Economic Insights blogs and our Data page.
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