Texas and South Carolina continue to witness a high influx of new residents despite soaring inflation and rising interest rates.
Expectations are that rising interest rates will create a marked slow down in 2023. However, for now the developers continue to build and the homes are still selling.
In August 2022, the Dallasnews reported: People are moving to Texas primarily for economic reasons. They want good job opportunities and to be able to afford the type of lifestyle they want to live. When you look at the West Coast compared to Texas, there’s a gigantic difference in housing prices.
The number one state relocating to Texas is California, however, many northern residents are making the migration to Texas as well.
Said Ignacio Herrera, U.S. Veteran owner of Marine Movers, “We continue to help new residents arrive weekly to the Dallas and Ft. Worth areas. While the national economy is a concern for everyone, housing prices, the cost of living, and quality of life issues are reasons I believe residents are moving to Texas.“
2021 was the seventh year in a row that Texas attracted more than 500,000 new residents from out of state. The Census also estimated 435,000 – 471,000 Texans moved to other states, yielding a net gain of approximately 100,000 people.
IN SOUTH CAROLINA
The number one county that “out of state” residents are relocating to is Horry County.
In 2021, these were the five top states migrating to South Carolina.
#5. Virginia
– Moved from Virginia to South Carolina in 2019: 10,143
— 5.8% of new residents that moved from another state
— #9 most common destination from Virginia
– Moved from South Carolina to Virginia in 2019: 9,721
— #4 most common destination from South Carolina
#4. New York
– Moved from New York to South Carolina in 2019: 10,416
— 5.9% of new residents that moved from another state
— #11 most common destination from New York
– Moved from South Carolina to New York in 2019: 3,169
— #10 most common destination from South Carolina
#3. Florida
– Moved from Florida to South Carolina in 2019: 14,136
— 8.0% of new residents that moved from another state
— #12 most common destination from Florida
– Moved from South Carolina to Florida in 2019: 9,909
— #3 most common destination from South Carolina
2. Georgia
– Moved from Georgia to South Carolina in 2019: 16,644
— 9.5% of new residents that moved from another state
— #4 most common destination from Georgia
– Moved from South Carolina to Georgia in 2019: 18,828
— #2 most common destination from South Carolina
#1. North Carolina
– Moved from North Carolina to South Carolina in 2019: 33,940
— 19.3% of new residents that moved from another state
— #1 most common destination from North Carolina
– Moved from South Carolina to North Carolina in 2019: 27,740
— #1 most common destination from South Carolina