Home >> Daily Dose >> Where Are Homeowners Looking to Move?
Print This Post Print This Post

Where Are Homeowners Looking to Move?

Housing Market

A new LendingTree study found that 88% of people searching for mortgages on its platform was looking in the same state. 

The study found that 93.9% of Texas residents were looking to move within the state, which is the highest in the nation. 

Behind Texas was Michigan, which saw 92.1% of its residents looking to stay within state lines. LendingTree Michigan residents are not leaving despite economic concerns and having the highest risk of recession. 

“Affordable home prices compared to most of the country are likely keeping residents in place,” LendingTree states. 

The states of Florida; Ohio; Oklahoma; Georgia; Alabama; North Carolina; Arkansas; Indiana rounded out the top states where residents are staying. 

Conversely, Alaska led the nation in the number of residents looking to leave, with just 75.7% of residents wanting to stay. Texas is the No. 1 destination for Alaskans looking to leave the state. 

Hawaii was a close second as it had 22.3% of residents searching outside the state. Nevada is the No. 1 choice for people wanting to leave Hawaii. 

A report by Clever found that borrowers in Hawaii paid the most in average mortgage fees at $6,967.89. Hawaii County has a median home price of $403,625 and annual wages of $43,810. Bristol County, Massachusetts, came in at No. 2 with a median sales price of $300,000 and median wages of $50,973. 

“Hawaii has high housing and living costs, which might be driving some residents to pack up and leave. Nevada’s bustling hospitality industry might be a draw for Hawaiian residents who currently work in the same field,” the study says. 

Concluding the bottom 10 were New York; Rhode Island; North Dakota; Wyoming; Vermont; Massachusetts; Delaware; and Maryland. 

Florida was the top destination for those looking to leave their state, as it was the favorite in 13 of the 50 states. Florida was followed by Texas, North Carolina; Pennsylvania; Washington; New Jersey; Minnesota; and California. 

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.

Check Also

Mortgage Industry Lends a Hand to the Community

From golf outings to blood and food drives, members of the mortgage industry banded together this holiday season to benefit several charitable initiatives.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.