People everywhere in the country are making big moves, whether it’s to a serious city for a brand new job or just to wherever they’ll get more bang for his or her buck.
U-Haul recently released its Growth Index, which highlights the U.S. states that saw the most important variety of movers in one-way U-Haul equipment in 2023.
The report found that for the fourth 12 months in a row, California had the most important net lack of one-way movers.
In recent times, California has seen a mass migration out off the state — a phenomenon that individuals call the “California Exodus.”
Between April 2020 and July 2022, The Los Angeles Times reported the number of individuals moving out of California was greater than 700,000.
One factor is the constantly rising cost of living in California, especially in major cities like San Jose, where residents pay a median of $3,504 in monthly expenses, or 71.2% higher than the national average.
For the sixth time in eight years, Texas is the No. 1 growth state. DIY movers accounted for 50.4% of all one-way U-Haul traffic arriving in Texas.
The Southern state has turn out to be a growing base for various industries including tech and aerospace. As of 2022, Texas leads the nation as home to probably the most Fortune 500 firms.
53 Fortune 500 firms have corporate headquarters within the state and Houston and Dallas are in the highest five municipalities within the country, with 21 and 11 firms respectively.
Texas is taken into account a tax-friendly state since it doesn’t collect any income taxes, based on SmartAssest. As an alternative, the state does have significant property and sales taxes.
- North Carolina
- South Carolina
For the second 12 months in a row Florida takes the No. 2 spot on the list. The Sunshine State has been within the top-four growth state for nine years in a row, based on U-Haul.
The last time it was within the No. 1 spot on the Growth Index was in 2019.
Much like Texas, Florida has no state income tax and not one of the cities within the state charge an area income tax.
Since residents of Florida typically enjoy a lower cost of living, it’s no wonder that the state continues to draw high-income earners. The state gained the most important variety of high-income staff who make a minimum of $200,000, based on a 2023 SmartAsset report.
Despite the continuing rise in rent and house prices in Florida, it continues to be a state where one could potentially get monetary savings by moving there.