Between 2019 and 2020, nearly 29 million Americans moved to new homes within the United States, with nearly 40% moving to other counties or states. Rising cost of living in some cities is pushing residents to cheaper places. While the total US population has grown 1.3% over the past three years, some places with below average cost of living grew by more than 10%, according to the US Census Bureau. According to Roofstock research, Phoenix is the third fastest growing major U.S. metro with a below average cost of living. ALSO READ: Phoenix Ranks # 1 in US Population Growth by Numbers Geographic mobility within the US has been declining since 2012. Between 1984 and 1985, over 20% of Americans moved. By 2020 that number had dropped below 10%. Moves of all kinds – within the same county, to another county within the same state, and to another state – are on the decline. Reasons for this decline include an aging population, high housing and relocation costs, and an increase in dual-income households, according to the Joint Center for Housing Studies at Harvard University. The COVID-19 pandemic has temporarily halted many moves, but the trend towards remote working could encourage more residents to relocate, especially to cheaper areas. While the total population of the United States grew by 1.3%, or about 4.4 million people, from 2017 to 2020, some cities and states experienced dramatic population growth. At the state level, Idaho and Nevada grew at the highest rates from 2017 to 2020 at 6.2% and 5.6%, respectively. Idaho, both relatively poorly populated and affordable states, gained about 107,000 residents, while Nevada gained just over 166,000 residents during the three-year period. On the other hand, many states with above-average cost of living, such as Hawaii, New York, New Jersey, and California, saw their population decline or stagnate over the same period. To find the affordable subways with the highest population growth in recent years, Roofstock researchers analyzed the latest population data from the US Census Bureau and the latest cost of living data from the US Bureau of Economic Analysis. The researchers classified metropolitan regions according to the percentage change in population from 2017 to 2020. The researchers also calculated the total change in population from 2017 to 2020 and the cost of living. In order to improve the relevance, only metropolitan areas with at least 100,000 inhabitants were taken into account. In addition, locations with above-average cost of living were filtered out. The analysis found that the cost of living in the greater Phoenix area is 1.3% below the national average. Between 2017 and 2020, the population in Phoenix increased 6.3%. Phoenix had the third largest population growth of any affordable large US metro. Here is a summary of the data for the greater Phoenix-Mesa-Chandler, AZ area: • Percentage change in population (2017-2020): 6.3% • Total population change (2017-2020): 299,192 • Population 2020: 5,059,909 • Cost of living (im Compared to average): -1.3% For reference, here are the statistics for the entire United States: • Percentage population change (2017-2020): 1.3% • Total population change (2017-2020): 4,361,995 • Population 2020: 329,484,123 • Cost of Living (compared to average): N / A For more information, detailed methodology and full results, see the original report on the Roofstock website: https://learn.roofstock.com/ blog / affordable-cities- mostly-population growth.
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