The number of Americans relocating has fallen by more than half since 2021, according to a new migration study from Bank of America. Long-distance moves are becoming less common, with people increasingly choosing to move between nearby cities within their home region rather than across state lines.
The study noted that when Americans do move, they overwhelmingly remain in their regional area. It said the trend is not a national reshuffle but people swapping one nearby city for another that better suits their budget and lifestyle. The study did not explain why the moving rate has dropped so sharply, but a separate report from the Federal Reserve Bank of Richmond last year attributed the slowdown to long-term factors such as an ageing population and increased earnings opportunities for women, which make moving costlier and less rewarding.
For those who do relocate, the Midwest has emerged as a popular destination. Indianapolis, Columbus (Ohio), Denver, Austin and Cleveland recorded the biggest population increases in the final three months of 2025. Conversely, Miami, Los Angeles, Washington D.C., San Jose and Boston lost the most residents over the same period.
Austin exemplified the trend of moving to a nearby city, with a quarter of its new residents coming from Houston, Dallas and San Antonio. Los Angeles saw its net population decline by 0.8 percent year on year, with its largest share of outbound residents heading to San Francisco/San Jose (6 percent) and San Diego (5 percent). New York City lost 0.5 percent of its residents, with 7 percent moving to Philadelphia, another 7 percent to Miami, and 3 percent each to Washington D.C. and Atlanta.
