The U.S. population has a strong reputation for moving regularly from around the block to around the country.
In some cases, people move for jobs or to be closer to family, and retirees are well known for moving to states with lower costs and better weather.
Knowing where people are moving can help insurance agents and brokers provide advice on their clients' insurance needs, whether they're going to become homeowners or renters, or add a property to their portfolio. Where and how often people are driving is another factor that may have an impact on auto insurance.
United Van Lines, based in Fenton, Mo., which moves people locally, nationally and internationally, has been tracking which states people are moving to and from for 40 years. They also survey their customers to understand why they've chosen to relocate from one state to another.
“This year's data clearly reflects retirees' location preferences,” said Michael A. Stoll, economist, professor in the Department of Public Policy at the University of California, Los Angeles. “We are seeing more retirees than ever decide to relocate, and as a result, new retirement hubs are popping up in Western and Southern states. Interestingly enough, these retirees are leaving at such a fast pace that the movement of millennials to urban areas is being overshadowed.”
Here are the top inbound states of 2016, according to United Van Lines' survey:
(Photo: iStock)
|10. Arizona
The Grand Canyon State is a popular location for snowbirds, and retirement communities thrive, even though retirement income from other states is taxed in Arizona.
Total shipments in and out of state: 7,117.
Total shipments into state: 4,053.
Percent of total shipments: 56.9 percent.
Related: 7 homeowners trends for 2017
(Photo: AP/Isaac Brekken)
|9. Nevada
Although gambling, entertainment and Las Vegas often are the first things to come to mind about Nevada, the state also is trying to attract high tech companies to the list of organizations doing business there. Nevada is also a state with no income tax.
Total shipments in and out of state: 2,236.
Total shipments into state: 1,296.
Percent of total shipments: 58.0 percent.
Related: 10 states with the best drivers
(Photo: iStock)
8. North Carolina
North Carolina is home to several nationally ranked colleges and universities as well as the high tech industry that has grown up around them known as “Research Triangle.” The state also has a favorable tax structure that makes it attractive to retirees.
Total shipments in and out of state: 9,370.
Total shipments into state: 5,447.
Percent of total shipments: 58.1 percent.
(Photo: iStock)
|7. District of Columbia
The new Congress and change of administration is likely to increase the number of people moving into and out of the nation's capital. In addition to government employees who may be moving, there are sure to be others in related businesses, such as law and lobbying firms, and consultants.
Total shipments in and out of state: 1,187.
Total shipments into state: 692.
Percent of total shipments: 58.3 percent.
Related: PIA calls for repeal of Federal Insurance Office
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(Photo: iStock)
|6. Washington
The state of Washington is known as the home of several large businesses, including Microsoft, Costco, Starbucks and Amazon. It's also known for magnificent scenery, salmon and a relaxed lifestyle, that makes it attractive to many.
Total shipments in and out of state: 8,621.
Total shipments into state: 5,033.
Percent of total shipments: 58.4 percent.
(Photo: iStock)
|5. South Carolina
Many people seeking a slower pace of life and lower cost of living are relocating to South Carolina. The state also hosts eight military bases and is home to several companies in the aerospace industry.
Total shipments in and out of state: 3,948.
Total shipments into state: 2,385.
Percent of total shipments into state: 60.4 percent.
(Photo: iStock)
|4. Idaho
Although potatoes are often the first thing people think of when they think of Idaho, there is much more to the state — even though its website does include a section on potato recipes. Less well known are Idaho's industries, including energy and aerospace, with a new, state-sponsored unmanned aircraft systems (UAS) program, with the goal of becoming a leader in all things related to drones.
Total shipments in and out of state: 1,389.
Total shipments into state: 906.
Percent of total shipments: 65.2 percent.
(Photo: iStock)
|3. Oregon
Oregon, which had been the number one moving destination for the previous three years, slipped to number three in 2016. Of all the moves into the state, a new job or company transfer accounted for 53% and retirement accounted for 19 percent.
Among the many reasons to move to Oregon according to Movoto, are no sales tax, great scenery and a thriving entertainment and arts community.
Total shipments in and out of state: 3,990.
Total shipments into state: 2,677.
Percent of total shipments: 67.1 percent.
(Photo: iStock)
2. Vermont
Home of Sen. Bernie Sanders, recent candidate for president in the 2016 election, and the original Ben & Jerry's Ice Cream Store and farm, Vermont is also well known for its dairy products and farming, maple syrup and ski resorts. According to Forbes, the state's unemployment rate is among the lowest in the United States, but business costs are about 15 percent above the national average.
Total shipments in and out of state: 277.
Total shipments into state: 186.
Percent of total shipments: 67.1 percent.
(Photo: iStock)
|1. South Dakota
The number one moving destination for 2016 was South Dakota. (Yes, you read that correctly.) The state is known best for the sculptures on Mount Rushmore, the Badlands and its role in settling the American West. But it also has no income tax, and it has a thriving banking industry as the credit card operations of Citibank and Wells Fargo can attest.
Total shipments in and out of state: 504.
Total shipments into state: 341.
Percent of total shipments in and out of state: 67.7 percent.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
