A new analysis by LendingTree found that Texas residents are most likely to move within the state. The study looked at the pandemic moving patterns of homebuyers throughout the U.S using data from Lending Tree users who requested a mortgage loan from March 2020 to Sept. 21, 2021.
Texas ranked first with the highest percentage of residents looking to stay in the state. The report found that 93.33% of Texas movers stay in-state, while only 6.67% move out of state.
The study found that Texas’ relatively low home prices and lack of state income tax make it a popular destination for out of state movers from areas like California, Alaska and Colorado. For the same reasons, Texans are staying put.
Florida, which ranked third for keeping its residents, is a popular destination for out-of-state movers across the country including Texas homebuyers. The analysis found that 11.4% of Texans who leave the state go to Florida.
LendingTree's senior economic analyst and report author Jacob Channel said that warm states like Texas and Florida were especially popular to movers through the pandemic.
“Not only did those states keep the largest share of in-state movers, but they also attracted large shares of out-of-state movers,” Channel said in a statement. “Though they were popular before the pandemic, the warm and sunny climates of these states likely made them even more appealing to movers who wanted amenities like a yard or a pool to enjoy while they quarantined."
Oklahoma ranked second with 91% of movers staying in the state. Texas was a popular destination for Oklahoma movers with about 26% of Oklahomans heading to Texas.
By Plamedie Ifasso – Digital Reporter, Dallas Business Journal
