South Carolina Rises to 4th in Net Migration In New Study by StorageCafe

It’s a trend that began during the pandemic and continues to thrive: An increasing number of Americans are choosing to leave expensive states in search of more space, a lower cost of living and more favorable weather.

South Carolina is more than just a relaxing beach vacation spot with swaying palms and crashing waves. According to our analysis of the most recent census data, South Carlina is becoming a magnet for Americans looking for more space, warmer climates and a cheaper way of life, andremote work has allowed them to do so.The state ranked fourth nationally for net migration per capita, with an influx of 15 newcomers per 1,000 residents, or 165 move-ins for every 100 people moving out.

We’ve also examined the potential gains stemming from the state-to-state switches, including factors such as income and unemployment, home prices and sizes in both the origin and destination states, plus housing inventory, among others.

Among our top findings regarding South Carolina:

• Folks from nearby states converge on Palmetto State: North Carolina sent the most people to South Carolina in 2021, almost 35K. It was far more than the second- and third-highest scoring states, Georgia and Florida, with 15,448 people and 14,802, respectively.
• Who is moving to South Carolina? Millennials overtake other generations, constituting the age group most on the move to South Carolina. They are followed by Gen-Xers and Baby Boomers. More than 7% of incoming residents are from Gen Z, the youngest generation currently entering the housing market.
• Transplants originating from Georgia and Virginia are among the highest earning, with incomes around $145K and $102K, respectively.
• Additionally, South Carolina is drawing in a well-educated demographic. A full 29% of its new residents have earned at least a bachelor’s degree. Also, an appreciable 12% of those moving in are working from home.
• South Carolina’s affordability translates into 47% of new arrivals becoming homeowners in the first year of residence. Among the US states, the Palmetto State is in fact the 10^th best-supplied in terms of housing options, with 0.46 housing units per person.
• Potential savings for homeowners making the switch: With the median home price 209% higher in the notoriously expensive Golden State, former Californians (5^th most popular originating state) may end up saving over $436K on average if they decide to buy in South Carolina vs. their origin state.

Don’t miss out on the complete report where you’ll find additional data and insights for all 50 states and DC: https://www.storagecafe.com/blog/top-states-people-are-moving-to/