Every year, U-Haul releases a ranking of U.S. states based on their estimates of growth in population since the prior year. This ranking helps understand the net influx of population from across the country, based on U-Haul’s data on one-way movers. According to the U-Haul Growth States of 2024 list, Virginia ranked 17th, dropping from 10th in 2023. This indicates that while Virginia saw a net influx of one-way movers to the state, it was lower than that for other states and lower than our growth since the prior year. Continuing the trend observed over the last few years of people migrating to southern states, South Carolina, Texas, North Carolina, Florida, and Tennessee clinched the top five spots on the list.

Figure 1: Virginia’s Ranking in the U-Haul Growth Index (2015-2024)

Source : U-Haul Growth Index

Additionally, U-Haul also publishes lists of the top growing metros and cities each year. In 2024, the Richmond metro area was among the top 25 metro areas that saw the largest net gains of U-Haul customers taking one-way trips. Moreover, two Virginia cities – Fredericksburg and Lorton (in Fairfax County) – ranked second and fourth in the list of top 25 U.S. growth cities. This speaks of the attractiveness of some of Virginia’s local markets to out-of-state residents.

While U-Haul rankings may not correlate directly to population or economic growth, the U-Haul Growth Index can help understand the trends regarding how well certain states and cities are attracting and retaining residents. Virginia has fared well over the last few years, but the most recent data suggest we could be slipping. To maintain growth, it is essential to keep meeting the needs of the growing population through planning and opportunities relating to the labor market as well as the housing market, specifically the availability of housing. Conscious efforts to that end will help support the long-term economic growth of the commonwealth.

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.