When it’s time to move, most Americans stay close to home

Despite the vast size of the United States and the freedom to move freely across its 3.8 million square miles, most Americans prefer to stay close to home, according to a new analysis from LendingTree. The study, based on data from the U.S. Census Bureau's 2022 American Community Survey (ACS), shows that only 11.21% of Americans moved within a year of the survey, with the majority of movers staying in their own state.

The analysis shows that 79.29% of movers stayed in the same state, 53.93% moved within their county, and 25.36% moved to another county within the same state. Only 20.71% of movers ventured to a new state.

Homeowners move less often, but travel longer distances

The study found that homeowners are significantly less likely to move compared to renters. Approximately 92.67% of Americans who live in owner-occupied homes stayed in their current home, while 80.28% of those who live in renter homes stayed in their current home. Homeowners' reluctance to move is attributed to the logistical and financial challenges of buying and selling real estate, which are more complex than the processes involved in renting.

However, when homeowners decide to move, they are more likely to move farther away. Data shows that 48.91% of homeowners who moved left their county or state, compared to 43.75% of renters who moved similar distances.

Colorado, Oregon and Wyoming lead in mobility

Certain states had a higher proportion of adventurous movers. Colorado topped the list with 15.26% of residents moving to a new home within a year, followed by Oregon (14.04%) and Wyoming (13.89%). In contrast, Delaware, Maine and New Hampshire had the lowest proportion of movers, with only 8.21%, 8.52% and 8.81% of their population moving, respectively.

Why most Americans stay close

The reasons to stay local are varied, but cost plays a significant role. Long-distance moves are typically more expensive than local moves, often costing thousands of dollars. This financial burden, coupled with high housing costs and interest rates, makes long-distance moves less feasible for many Americans.

In addition to the financial burden, practical considerations keep movers close to home. Many Americans still work locally, making it difficult to move far away without jeopardizing job security. In addition, the desire to stay close to family and friends often outweighs the appeal of moving to a new area.

While there are benefits to moving long distances—such as better job opportunities or more affordable housing—data suggests that most Americans prefer the familiarity and stability of their current environment.

A look into the future

As the 2022 ACS data show, the trend of staying at home is likely to continue. Despite the potential benefits of moving to new areas, the financial, practical and emotional costs appear to outweigh the benefits for most Americans.

This analysis, written by LendingTree senior economist Jacob Channel, underscores Americans' continued preference to stay close to their roots, even in a country that offers so many opportunities to relocate.

Click here to view a complete overview of LendingTree's statistics.