Fewer people are moving, but they're still picking North Carolina

Fewer Americans moved than ever in 2024, according to an analysis of census data published this fall.

• But, for those who did relocate, North Carolina remained a hot landing spot.

The big picture: Roughly 1 in 9 people (11%) changed residences last year — a record low in data going back to 1948.

• That's down from around 14% a decade ago and 20% in the 1960s, per the analysis by rental listing site Point2Homes.

Why it matters: A sharp nationwide "decline in geographic mobility is the single most important social change of the past half century," The Atlantic's Yoni Appelbaum wrote earlier this year.

• In any decade, "the people who have moved have done better economically than the people who stayed behind," Appelbaum said on a podcast in August, discussing his book "Stuck."

What they're saying: "Falling mobility also affects economic resilience by limiting labor market flexibility, slowing wage growth and potentially reducing innovation as workers are less likely to move for better opportunities," per the report.

State of play: New Jersey (8%) and New York (9%) had the lowest shares of movers in 2024, while residents moved most in Alaska, Oklahoma and Colorado, each around 14%.

• In North Carolina, 11% of the population changed their residence.

Between the lines: Many who do move are going further afield, usually for housing affordability, climate resilience or job opportunities.

• 19% of movers in 2024 changed states, and over 71% relocated to a different city, per Point2Homes.

Zoom in: North Carolina — with its growing economy and job expansions — appears to be one of the places that people who move are still choosing.

• Nearly 300,000 people from out of state moved into North Carolina last year, according to the analysis.
• That was the fourth most of any state, with many picking the Raleigh area or Charlotte as their final destination.