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The 5 Leading & Losing States For Net Migration

Where the people go, real estate investors tend to follow. This makes sense given that net migration trends directly correlate with housing demand. Monitoring these trends is a balance of both science and art, as other factors such as political policies, natural disasters, or major employer movements can shift these trends in unexpected ways. Just because a market is strong one year, it doesn’t guarantee it will be the next.


This week we’re taking a look into what impact the pandemic had on the general US population, as the newest data released from United Van Lines’ 2021 Annual National Movers Study reveals where there were the most significant shifts as people moved around the country. In addition to the migration data, this report also provides very insightful data into why these individuals or families were moving. Being aware of this is important for investors, as it indicates not only where demand is likely to increase, but what values and priorities motivate potential tenants.


Where did the majority go, and where did they leave? Let’s take a look…


The 5 Losing States for Net Migration


5. California

Percentage of Outbound Moves: 59%

Percentage of Inbound Moves: 41%

Primary Reason for Inbound Moving: New Job

Median Household Income: $78,672


4. Connecticut

Percentage of Outbound Moves: 60%

Percentage of Inbound Moves: 40%

Primary Reason for Inbound Moving: Closer to Family

Median Household Income: $79,855


3. New York

Percentage of Outbound Moves: 63%

Percentage of Inbound Moves: 37%

Primary Reason for Inbound Moving: Health / Personal Reasons

Median Household Income: $71,117


2. Illinois

Percentage of Outbound Moves: 67%

Percentage of Inbound Moves: 33%

Primary Reason for Inbound Moving: Closer to Family, Health / Personal Reasons

Median Household Income: $68,428


1. New Jersey

Percentage of Outbound Moves: 71%

Percentage of Inbound Moves: 30%

Primary Reason for Inbound Moving: Closer to Family

Median Household Income: $85,245


The 5 Leading States of Net Migration


5. Florida

Percentage of Inbound Moves: 62%

Percentage of Outbound Moves: 38%

Primary Reason for Inbound Moving: Retirement

Median Household Income: $57,703


4. West Virginia

Percentage of Inbound Moves: 63%

Percentage of Outbound Moves: 38%

Primary Reason for Inbound Moving: New Job / Cost of Living

Median Household Income: $48,037


3. South Carolina

Percentage of Inbound Moves: 63%

Percentage of Outbound Moves: 37%

Primary Reason for Inbound Moving: Retirement / Lifestyle Change / Cost of Living

Median Household Income: $54,864


2. South Dakota

Percentage of Inbound Moves: 69%

Percentage of Outbound Moves: 31%

Primary Reason for Inbound Moving: Cost of Living

Median Household Income: $59,896


1. Vermont

Percentage of Inbound Moves: 74%

Percentage of Outbound Moves: 26%

Primary Reason for Inbound Moving: New Job

Median Household Income: $63,477


Want to Invest with Ellie Perlman and Blue Lake Capital?


If you are interested in learning more about passively investing in multifamily properties, click here to schedule a call with the Blue Lake Capital Team.


About the Author


Ellie is the founder of Blue Lake Capital, a commercial real estate investment firm specializing in multifamily investing throughout the United States. At Blue Lake Capital, Ellie partners with both institutional and individual investors to grow their wealth by achieving double-digit returns by investing alongside her in exclusive multifamily deals they usually don't have access to.


A defining factor of Blue Lake Capital’s strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Blue Lake is able to lead commercial investments with the full capabilities of today’s technology.


Ellie is the host of REady2Scale, a podcast that highlights the assets, processes, and strategies for the multiple approaches to successful real estate investing.


She started her career as a commercial real estate lawyer, leading real estate transactions for one of Israel’s leading development companies. Later, as a property manager for Israel’s largest energy company, she oversaw properties worth over $100MM. Additionally, Ellie is an experienced entrepreneur who helped build and scale companies by improving their business operations.


Ellie holds a Masters in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.


You can read more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.


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