North Carolina continues to attract new residents, with Charlotte and Raleigh ranking among the top destinations for movers in 2023.
According to a report from Zillow based on United Van Lines data, Charlotte had the highest net in-migration of any U.S. metro, while Raleigh ranked 5th.
The study highlights affordability as a key reason why people are flocking to these cities.
Where are people moving from?
- Charlotte saw new residents from New York, Chicago, Dallas, and Houston.
- Raleigh attracted movers from New York, Boston, Dallas, and Austin.
Zillow’s Senior Economist Orphe Divounguy explained that housing affordability is driving the trend, as many movers sought areas where homes are less expensive than their previous cities. On average, movers in 2023 relocated to metros where homes were about $7,500 cheaper.
Other cities that attracted significant movers included Providence, Indianapolis, and Orlando, with these metros expected to be among the hottest housing markets in 2024. Meanwhile, cities like Chicago, San Diego, Cincinnati, and New York saw the most outbound moves last year.