The Virginia cities out-of-state residents are moving to
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Illustration: Brendan Lynch/Axios
Richmond is losing out-of-state newcomers to other Virginia cities, according to a recent report.
Why it matters: Americans are moving less than ever before, and cities like Richmond could risk falling behind if they can't attract the people who do relocate.
By the numbers: An analysis of Census data by Point2Homes, a rental listing site, found that about 14% of people who moved into Richmond last year came from another state.
- That's the lowest share among the 15 Virginia cities analyzed.
- The Hampton Roads area and Northern Virginia drew the most from out-of-state.
- The No. 1 spot went to Chesapeake (41%), followed by Lynchburg (40%), Alexandria (39%), Norfolk (38%), Arlington (36%) and Virginia Beach (34%).
Yes, but: The Richmond region has been the fastest-growing metro area in Virginia.
Zoom out: Virginia overall remains a magnet for out-of-state movers, ranking 13th nationally in the share of residents who crossed state lines, per the data.
- Many of those newcomers are moving from infamously expensive states like New York and California, according to a recent JLARC report.
The big picture: Nationwide, only 1 in 9 people (11%) changed residences last year — a record low in data going back to 1948, according to the Point2Homes analysis.
- Virginia (12%) was just above the national average.
- New Jersey (8%) and New York (9%) had the lowest shares of movers, while residents moved most in Alaska, Oklahoma, and Colorado, each around 14%.
Threat level: Falling mobility can mean slowing wage growth and potentially less innovation "as workers are less likely to move for better opportunities," per the report.
The bottom line: Virginia keeps attracting more out-of-state movers than a majority of the U.S., but more are flocking to Hampton Roads over Richmond.
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