Southern US Migration: A Statistical Perspective and its Impact

The southern migration trend in the US is significant and worth noting, especially for the commercial real estate industry impact of multifamily, retail, office and industrial spaces. According to the US Census Bureau, Florida and Texas have experienced the highest population growth rates in the nation from 2020 to 2021. In 2022, Californians and New Yorkers led the migration to Florida, comprising 20% of inbound moves. Illinois, New Jersey, and Pennsylvania residents also make up a considerable percentage of new Florida residents.

Aside from Florida and Texas, other southern states like Oklahoma, Tennessee, and Alabama have also seen a substantial increase in the number of realtors since July of 2021. This trend presents potential opportunities and challenges for the commercial real estate industry in these areas.

In conclusion, it is crucial for real estate investors and users to stay informed about the ongoing southern migration trend and its potential impacts on space and capital markets. Contact us for more analyses!