Minnesota Among States Retaining Residents the Most in 2024

Minnesota retaining residents 2024

(Minnesota) — September 4th, 2024 —  moveBuddha examined 175k searches for relocations this year to see which states are doing the best job at keeping their residents in their state this year.

Inspired by the Federal Reserve Bank of Dallas’s findings on lifelong stickiness, this report reveals which states relocating residents are stickiest in 2024. The key seems to be affordability.

The findings come from a new report we published with relocation tech company moveBuddha: The Stickiest States of 2024: States Retaining Their Residents in 2024.

Minnesota is the #5 stickiest state of 2024. 

  • 25% more of MN’s relocating residents stay in state than in other states. Across America, of all movers planning a move using moveBuddha’s Moving Cost Calculator, only 28% plan to remain within their state borders, in Minnesota, it’s 35%.
  • What may be keeping Minnesota stickier than other states this year? Two factors showed a significant impact this year: home prices (regardless of recent inflation) and cost of living.
    • Cost of Living: When it comes to the MERIC Cost of Living Index, MN has a low cost of living index of 94.8. (Where 100 is the national average.)
    • Home prices: The average cost of a home in Minnesota, $340,047, falls below the national average of $362,481, according to Zillow.
  • The stickiest state is Texas (39%), followed by North Carolina, Ohio, Oklahoma, Minnesota, Wisconsin, Georgia, South Carolina, Missouri, and Pennsylvania. The least sticky is Alaska (10%).

 

Overall findings: Which states are stickiest in 2024?

Midwestern and Southern states are the stickiest. In fact, there are no New England or states west of the Continental Divide that are holding on to their residents best.

Instead, the westernmost states where residents are keen to stay include Texas, Missouri, and Oklahoma. In the Midwest, residents are reaffirming their commitment to states like Ohio, Minnesota, and Wisconsin. The farthest northeast that residents like to stay put most is Pennsylvania.

In the South, North Carolina, Georgia, and South Carolina are standout sticky states.

Rank State % of in-state relocations
1 Texas 38.55%
2 North Carolina 37.04%
3 Ohio 35.45%
4 Oklahoma 34.94%
5 Minnesota 34.85%
6 Wisconsin 34.52%
7 Georgia 33.84%
8 South Carolina 33.78%
9 Missouri 33.53%
10 Pennsylvania 32.53%

 

How we did it: We analyzed over 175,000 searches made in the moveBuddha Moving Cost Calculator (1/1/24 to 8/8/24) to rank the top states by their stickiness – their ability to keep relocating residents within state lines in 2024.

 

 

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