A new study from LendingTree shows that the majority of Americans prefer to move within their own state, while a few key states—most notably Florida and Texas—are the most popular landing spots for those who do choose to relocate. The report analyzed purchase mortgage loan requests for primary residences across all 50 states to determine which states residents were staying in, leaving, or moving to.
Texas leads the nation in keeping its residents close to home. According to the study, roughly 93% of Texans looking to move were searching for homes within the state, the highest percentage in the country. Michigan followed closely behind, with an estimated 92% of residents wanting to stay in-state. LendingTree notes that despite economic concerns—like Michigan’s high recession risk—residents may be staying put due to comparatively affordable home prices.
On the other end of the spectrum, Alaska had the lowest percentage of residents looking to stay in-state, with only about 75% intending to remain. For those leaving Alaska, Texas was the top destination. LendingTree points out that although the two states differ greatly in climate and lifestyle, their similar oil and gas industries may make career transitions easier for workers relocating.
In Hawaii, around 22% of mortgage loan seekers were looking to leave the state—the second highest percentage nationally. Nevada was the top destination for Hawaiians, likely due to its thriving hospitality industry and lower housing costs. As for New Yorkers, almost 80% preferred to stay in-state, but among those leaving, New Jersey was the most popular choice—likely driven by housing affordability just across the Hudson River.
The study also revealed that for many, moving to a neighboring state is the most common choice. More than half of the most popular out-of-state destinations border the current state of residence. But Florida stood out as the top destination for long-distance moves. For consumers looking to move to a non-bordering state, Florida was the favorite among residents in 11 different states. Overall, Florida accounted for just over 9% of all mortgage loan requests in the study and just over 12% of requests from out-of-state movers.
Florida also had the third-highest share of residents looking to remain in-state, confirming its dual appeal as both a departure point and destination. LendingTree attributes the Sunshine State’s popularity to factors like no state individual income tax and sunny weather, especially among retirees.
These LendingTree analysis results show that while most Americans still prefer to stay near home, a few states—led by Florida and Texas—continue to draw movers from all corners of the country.
Click here for more information LendingTree’s study on migration in the U.S.
