U.S. relocation rates hit record low amid housing costs

U.S. residential relocation rates have reached their lowest level since recordkeeping began in 1948. According to a Point2Homes analysis of census data, only approximately 11% of U.S. residents changed homes in 2024, a significant decrease from 14% a decade ago and nearly 20% in the 1960s.

Researchers from Harvard’s Joint Center for Housing Studies attribute this decline to high interest rates and elevated home prices, which have disincentivized hundreds of thousands of homeowners from moving. Experts suggest that without fundamental changes to the housing market, this lower level of household mobility may become permanent.

Despite the overall decline, migration remains concentrated in specific regions. Data from the U.S. Census Bureau and U-Haul’s Growth Index indicate that people continue to move toward the Southeast. Texas has been ranked as the top growth state for 2025, followed by Florida, North Carolina, and Tennessee.