Migration Flows Between Regions, 2019-2020
NO. 04 | CHART FOR THOUGHT
- When looking at migration flows between regions for the past year, the South has been dominant in attracting people 16 years and older. Over 60% of each region’s migration went to the South.
- The South is known to be more business-friendly attracting both employers and talent. Companies like CBRE (L.A. to Dallas), Oracle (San Francisco to Austin) and Elliot Management (Manhattan to South Florida) are just a few HQs that have announced relocations to the South in 2020.
- Additionally, the weather and low-cost of living attracts many retirees. As referenced in our latest insights piece on housing demand, the U.S. Boomer population is close to 70 million people with the largest section of Boomers falling into the 55-59 age cohort. This strong migration could continue as this 55-59 age cohort starts to retire and relocate.