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50 | M REPORT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Where Americans Moved in 2022 Southern states are seeing an influx of movers, with many Americans migrating to find increased affordability, better quality of life, and lower income taxes. N orth American Van Lines, Inc. has released its annual migration map that details where Americans moved this past year. The map uncovered a sizable trend of Americans leaving high- cost-of-living areas for warmer climates with more reasonable housing conditions, noting south- ern states received the largest amounts of movers. The map highlights the as- sociation between southern states lessening COVID-19 restrictions first in 2020, as well as lower tax rates, which Americans, coupled with warmer temperatures, may find appealing. Key Takeaways From the 2022 Moving Migration Report » Move volume, or the number of individuals that moved in 2022 was down compared to previ- ous years. » Southern states remained prima- ry draws for those moving, with top destinations South Carolina, North Carolina, Tennessee, Arizona, and Florida. » For the fourth year in a row, Illinois has the largest percent- age of individuals moving out of the state. » Tennessee, North Carolina, and South Carolina have consis- tently been on the list of top inbound states since 2020. » Many of the moves revolve around the flexibility of remote work and those choosing to take the route of early retirement. Illinois Is Top Outbound State for Nine Years in a Row Since 2014, Illinois has been the top state for outbound moves, ac- cording to the Moving Migration Report. Other leading outbound states include New Jersey and Pennsylvania, both of which have remained on the list for more than a decade. Neighbor released information stating that 78% of Americans are reducing their spending this holiday season. With the surge in inflation and the competitive housing market that is currently in play, many are cutting back on expenses to make ends meet. Two of the biggest ex- penses Americans face are income and property taxes. Reducing those can have a significant im- pact on a family's budget. California and New York sit towards the top of the highest cost of living lists in the United States. To find affordable housing and provide a higher quality of life for their families, people are branching out of expensive states and cities or urban areas. While houses still sell for top dollar in many areas, the com- petition has lessened. Many who are listing homes in top metro locations are finding that there are fewer showings than in previ- ous years. The increase in cost is pushing prospective buyers into rural areas for homeownership. With affordability and quality of life top of mind, buyers are more likely to forgo convenience for lower taxes and home prices. Quality of Life Is the Top Concern for Movers in 2022 After experiencing several years of uncertainty, many are on the hunt for somewhere to settle that provides a higher quality of life than they previously had. For many, that means finding a home that is nestled in nature and al- lows for ample outdoor experienc- es. Relocating to be near family is another factor. One of the driving forces be- hind this trend is the continuance of remote work. After numer- ous companies implemented this structure during the pandemic, workers realized they could successfully fulfill their work obligations away from the office. Given that, they are choosing to reside in locations where they can get more bang for their buck. Helping to continue the work- from-home trend is the fact that many companies downsized their corporate office space during the pandemic, resulting in less office space for their employees to work from. Whether or not the work- from-home trend will be one the majority of companies ascribe to long-term remains to be seen. Highest Income Tax States in 2022 Having your residence in cer- tain states requires you to pay a higher income tax than what you are liable for in others. Something the two top outbound states have in common is that they have some of the highest tax rates in the country. Those in California and New Jersey have long dealt with tax rates that are in the highest percentage in the United States. These levels take away from a person's overall income and leave fewer funds for discretion- ary spending and investments. Owning property, along with property taxes, is part of this equation as well and another top reason for people moving to lower tax liability states. Top Cities in 2022 Among the top inbound states "While houses still sell for top dollar in many areas, the competition has lessened."