What is the main reason behind a residential relocation? The long and short of it is actually very simple – housing issues. But there are others.
Today, we have seen a historic low in domestic migration and relocation. In fact, almost 70% of all residential moves are within the same county. However, even though the moving statistics are down and we’re in the middle of a nationwide housing crisis, almost 38 million Americans moved between 2009 and 2010. Almost half of them moved because of housing issues, though it is not clear how many moved due to foreclosure.
Family matters are another main reason for Americans to move, even during stressful financial times. Typically, that means marriage or divorce – that makes up about 30% of all moves. The most recent U.S. Census Bureau data indicates that job issues are a cool third in line after housing and family.
Where People are Moving
Though the rate of domestic relocation is at the lowest level it’s been at since 1947 (when the Census Bureau actually started keeping track), we wondered in which areas people were moving the most. It looks like people in the northeast are the most likely to stay where they are. This could be because of high moving costs. Those living out west are the most likely to relocate for any number of reasons.
Top Reasons to Move
Of those people counted, here are the top reasons why anyone would move, in order from highest to lowest:
- New or better home
- Moving out on their own
- Cheaper housing
- New job or employee relocation
- Moving closer to work
- Lower crime rate
- Wanted to buy a home
- Loss of employment
- Better weather
- Due to natural disaster