special Report
September 15, 2023 at 10:26 am
Last Updated: September 15, 2023 10:26 am
Geographic mobility in the United States is at historic lows. Only 8.7% of the population moved into a new home in 2022, the second-smallest share since record-keeping began in 1948, and only slightly higher than the all-time low of 8.4% reported in 2021.
And while more than half of all movers in 2022 relocated to another location in the same county, there are some parts of the country that Americans are leaving behind altogether. Furthermore, they are moving at a much faster rate than average.
Using metro area-level data from the U.S. Census Bureau’s Population Estimates Program, 24/7 Wall St. identified the cities losing the most people. Metro areas were ranked based on the percentage change in population due to net migration from July 1, 2021, to June 30, 2022. Data were collected from the county level to the metropolitan level using MSA definitions for July 2023 from the Census Bureau.
Across the 50 metro areas on this list, the group of people moving out between July 2021 and June 2022 outnumbered those leaving by anywhere from about 350 to nearly 222,900. In some cases, this led to population declines of more than 2% – not including population changes from births or deaths.
Notably, in each of these 50 metro areas, outbound migration was offset by inflows of international immigrants. In nearly a dozen cities on this list, net migration from abroad contributed to an influx of more than 1,000 new residents. Without these new arrivals, the population decline would have been much more pronounced. (Here’s a look at the best US cities for immigrants, according to statistics.)
Regionally, these metro areas are spread across the country. However, many of them are concentrated in a single state. For example, California is home to 10 metro areas on this list, New York is home to eight, and Louisiana is home to six.
These cities include many of the largest – and most expensive – places in the country. Cities like Chicago, New York, Los Angeles and San Francisco have lost nearly 1% or more of their population in the last year due to migration alone. (Here’s a look at the 23 cities in America with the most expensive rent.)
Click here to see which cities people are leaving in large numbers.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor does not have to be difficult. SmartAsset’s free tool matches you with up to three financial advisors serving your area, and you can interview your advisors at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you are an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profits.
Source: 247wallst.com
