(Bloomberg) -- Low taxes and warm weather were once again a draw for Americans in 2022, with Florida and Texas seeing the most migration from other states, according to a report from the National Association of Realtors.
And on the flip side, California, New York and Illinois are losing the most people.
Americans have been leaving high-tax states for years, shifting to the Sun Belt in search of bigger houses, sunshine and lower costs. The trend picked up steam during the pandemic and continued through last year, even as offices in major cities like Chicago, New York and San Francisco reopened and bosses started calling employees back.
Some office workers who fled cramped urban apartments during the pandemic returned when vibrant city life bounced back and people returned to the office. But for other city dwellers, the ballooning sticker price for everything from rent to food is no longer worth the costs, forcing a higher share of the population to depart.
“While affordability hit record lows in 2022, it is the primary reason that people continue to relocate from these big city centers to less dense and more affordable areas,” wrote NAR economist Nadia Evangelou.
To contact the author of this story:
Paulina Cachero in New York at [email protected]
