This isn’t new. Over the past two decades, homeownership among interstate movers has closely mirrored the broader housing market. In the mid-2000s, roughly 30% of movers bought a home right away. That dropped below 20% during the housing crash, then climbed back into the mid-20% range by the late 2010s.
Then came the pandemic. In 2020 and 2021, low mortgage rates, remote work, and a flood of relocations pushed the share of interstate movers buying homes above 30%, peaking near 33%. Fast forward to 2024, and we’re back to 27.5%, close to pre-pandemic levels. Rising mortgage rates and affordability challenges have nudged more movers back toward renting first—even if homeownership remains their long-term goal.
Where Some Markets Defy the Trend
While the national average leans heavily toward renting, some markets are bucking the trend. Areas like Daphne–Fairhope–Foley, AL; Naples–Marco Island, FL; Ocala, FL; Hickory–Lenoir–Morganton, NC; and Rockford, IL see more than half of interstate movers buying right away, sometimes over 70%.
What’s common among these markets? Affordability, available housing, and strong in-migration. Many are also popular retirement destinations, where movers often bring equity from a previous home sale. In these cases, buying immediately is not just possible—it’s the smarter move.
National vs. Local Realities
Nationally, affordability pressures are real. Younger movers or those facing high borrowing costs often choose to rent first to gain flexibility, learn a new market, or save up for a down payment. The further the move, the more common renting becomes.
But locally, the story can look very different. For REALTORS®, this is huge. Interstate movers aren’t a monolith—their buying behavior depends on where they land. Some markets see them as future buyers, while in others, they’re buyers immediately.
Even through major market shifts—from the housing crash to the pandemic surge—interstate movers consistently hover around the same national percentage. What shifts is where those buyers show up. Understanding these patterns gives a clearer picture of local housing demand and helps REALTORS® know where opportunities are hiding.
