In 2022, Americans continued the trend of moving to areas with lower population density for reasons ranging from family to career changes, according to a study by United Van Lines that examined state-to-state migration patterns.
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. Housing market booms can also signal where construction companies, and their vast insurance needs, are seeing the most demand.
According to Michael A. Stoll, economist and professor in the Department of Public Policy at the University of California, Los Angeles, the study shows that Americans are "now moving from bigger to smaller cities, mostly in the South, some in the West, but even an increase of migration to the Northeast, which has not been typical. We're also seeing younger millennials migrating to vibrant, metropolitan economies, like Washington, D.C. and Portland, Oregon."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
