On the U-Haul Growth Index, which shows net losses of one-way trucks in various states that year, California and Illinois ranked 50th and 49th, respectively – marking their third consecutive year at these positions.
Long-Term Migration Patterns Hold SteadyIn 2022, the top growth states according to U-Haul’s Annual Growth Index were Texas, Florida, and the Carolinas—emerging as particularly sought-after one-way truck rental destinations.
Impact of Changing Economic ConditionsU.S. Bureau of Economic Analysis (BEA) statistics released Dec 23, 2022, reveal that 47 states and the District of Columbia (D.C.) experienced a rise in their real gross domestic product (GDP) during the third quarter of 2022.
Why Are Certain States Shedding Residents?From the high cost of living to remote job opportunities and even weather, there are numerous reasons why people left California and Illinois in 2022. Regardless of their motivation for migration, one thing is sure: a significant movement away from these states occurred this year.
As remote working options become increasingly available, a surge in population growth and migration to lower-cost-of-living areas will occur. Furthermore, these cities and states now afford more significant job opportunities than ever.