“How Cost of Living is Impacting the Move to More Affordable States and Cities”

The COVID-19 pandemic has caused a shift in the way people move, resulting in subsequent ripple effects on local industries. As the pandemic recedes into the background, rising inflation rates have become a major concern – and this could be leading some individuals and families to relocate to more budget-friendly states and cities. To gain insight into what is driving domestic migration trends today, Placer.ai conducted an analysis of recent location intelligence data for their white paper titled “How Rising Living Costs Are Impacting Domestic Migration Trends”. The study looked at how cost of living differences impact migration on both statewide household income levels as well as local levels. Results showed that there appears to be a small but significant movement of people from regions with higher income and higher cost of living towards more affordable areas.