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 flow between different states. The latest data we have is for migration flows between 2023 and 2024. Let us look at key takeaways from the migration data for Virginia to understand the population change in the state that directly affects the demand for housing in our residential market.

Between 2019 and 2022, Virginia saw more people leaving the state and moving to other parts of the country. However, in 2023, there was a reversal in this trend with more people moving into the Commonwealth from different states than people leaving Virginia. This net positive migration flow continued in 2024. 265,514 people moved to Virginia from other parts of the country (including the District of Columbia and Puerto Rico) while 263,931 people moved out of Virginia to other parts of the United States.

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 New Jersey, Pennsylvania, New York, South Carolina, and the District of Columbia. On the other hand, the highest levels of net migration outflows for Virginia were with North Carolina, Ohio, Florida, Colorado, and Maryland.

As evidenced by the positive net migration flow in Virginia, people are continuing to choose Virginia as they decide to move for a variety of reasons such as better job opportunities, to be close to family, etc. This emphasizes the need for more housing options to continue to maintain the desirability of Virginia as a state to move to within the United States.

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.