A new study on why people move confirms that the main reasons people move are for better housing and jobs, according to Rent Café.
The number of people moving last year – 24 million – was the lowest number in 25 years.
More than half of those who moved last year (13 million) packed up for better housing. Another five million chased job opportunities.
Overall, the pursuit of better homes represented 15% of all moves, along with the search for more affordable housing, which drove 10% of relocations.
“Instead of compromising more, Americans are now strategically relocating to balance career opportunities with quality-of-life and housing costs,” the RentCafe research team writes.
This trend reveals how housing and career choices continue to reshape America’s cities, the study says.
“This trend reveals an intriguing paradox of the remote-work era: Despite the widespread adoption of work-from-home policies, job-related relocations remain strong.
“It suggests that workers are leveraging the flexibility of remote work to seize career opportunities across broader geographic areas. This trend aligns with the post-2020 job-hopping phenomenon, in which nearly one in five workers stayed in their role for a year or less by 2022. Plus, an easier commute drove more than 5% of all moves last year, which reinforces the paradox,” RentCafe says in the study.
Solo renters fasting moving group
While moving out and living on one’s own seems to be less appealing or achievable compared to pre-pandemic times, solo renters are the fastest-rising renting group.
Then, cheaper housing comes in as the fourth most popular reason for relocating, with a share of nearly 10%. This is far from unexpected in the context of record-high home prices.
A few highlights from the report:
- 7% of Americans who moved last year did so to achieve homeowner status.
- 6% of movers sought a better neighborhood.
- 8% of moves were for health concerns.
- 4% of moves for retirement
- 1% of moves were for a change of climate
