U.S. Metros with the Most Inbound Migration: Q3 2022

According to a recent Rent. survey, more than half — 55.16 percent — of U.S. renters were interested in moving. The same survey showed that among those, nearly 40 percent were willing to relocate outside of their current city, state or geographic region if the price was right. Migration data from Rent. bears out those responses as the most popular metros for inbound migration boasted both home prices that were below the U.S. median and relatively affordable rents.

Determining the metros with the strongest inbound migration

To determine the most popular migration destinations, Rent. researchers mined the site’s user data to gauge interest in listings by geographic location. Results were gathered during the third quarter (Q3) of 2022, in the months of July, August and September.

The survey measures a“lead delta,” which is the difference between the number of inbound leads and outbound leads within a particular metropolitan area as a proportion of all leads within the same area. A “lead” is a rental industry terms referring to a prospective renter who submits information to a property management group, owner or landlord signaling they’re interested in a rental property.

Metropolitan areas with more inbound than outbound leads have a positive lead delta. The larger the lead delta, the higher the interest. A negative lead delta means there are more outbound than inbound searches in a particular metro, which indicates a decrease in popularity. A lead delta of zero would mean a metro saw the same number of inbound and outbound leads during this survey period.

The Top 5 metros with the highest inbound migration

The South and Midwest continued to be popular regional destinations in Q3 2022. Three of the five most popular cities for inbound migration were located in the South. Two more of the Top 5 are in the Midwest.

Three metros returned to the Top 5 for the second or third time this year, indicating long-term popularity with renters. More details on regional, state and metro level migration trends are available in the Rent. Migration Report.

1. Biloxi-Gulfport, MS

Mississippi’s Biloxi–Gulfport was the most popular destination for renters in Q3 with a 51.15 percent lead delta . It has been a Top 5 migration destination for renters all year returning a 40.01 percent lead delta in Q2 and a 36.40 lead delta in Q1.

Renters from inside the metro and other Southern communities, including New Orleans, the Mobile–Pensacola–Ft. Walton Beach metropolitan area, Atlanta and Houston were interested in moving here. The second highest number of leads (12.6 percent) came from renters in Chicago.

Bidding wars, quick sales and multiple offers were common in this Mississippi Gulf Coast community this year. But rising interest rates slowed the buying surge this fall.

“Sellers that were seeing multiple offers, that were seeing a large buyer pool for a $200,000 house may start to see days on market extend from a 24-hour period to now back to the normal, or what I consider a normal 30 days, 60 days,” Tashia McGinn, Biloxi-based Exit Prestige Luxury Realty broker-owner told WLOX in September.

Rents may be stabilizing, too. The average rent in Biloxi-Gulfport was $1,060 in October, up a whopping 26.62 percent over last year, but down 2.23 percent from the previous month.

2. Huntsville-Decatur (Florence), AL

The second most popular migration destination during this survey period was northern Alabama’s Huntsville–Decatur (Florence) area. It recorded a 48.4 percent lead delta in Q3, up from 41.77 percent in the previous quarter.

A combined 35.63 percent of leads came from within Alabama. Renters from Chicago, Atlanta, New York and Nashville were also interested in relocating to Alabama’s largest metropolitan area, which is known for its aerospace and defense industries.

There are signs that the community’s housing market is mellowing after a period of historic growth seen around the country. New home listings decreased 17.5 percent in the four-week period ending November 6, after recording a four-year high in Q2. And just 41.1 percent of homes were off the market in two weeks during the same period recorded by real estate site, Redfin. That’s down from a four-year high in April 2022.

But after a dip in August and September, home prices have held steady. The median sale price was $328,000 during the most recent Redfin survey period. That’s up 12 percent from last year, but still lower than the $359,000 U.S. median sale price.

Renters are beginning to see prices stabilize, too. The average October rent in the market was $1,322. That’s up 9 percent from last year, but down 1.21 percent from the previous month.

3. Madison, WI

Wisconsin’s capital city, Madison, came in third with renters. The state’s largest metropolitan area recorded a lead delta of 42.31 percent in its first 2022 appearance on the Top 5 inbound migration list.

Just over a quarter (25.78 percent) of renters interested in moving here already lived in the metro, while 15.69 percent of leads came from Chicago and another 9.4 percent came from Milwaukee. Renters from Los Angeles, New York and Denver were also intrigued by Madison.

Rents have risen in Madison this year, but it’s still more affordable than the nation’s most expensive metros. Renters paid an average of $1,675 in October, up 2.43 percent from the previous month and a 5.57 percent increase from last year.

The housing market, which often predicts slowdowns in the connected rental market, may be leveling off slightly. New listings were down 29.4 percent year over year during the four-week period ending November 6. But despite limited inventory, the median home price dropped to $355,000, 7 percent higher than last year, but down from this year’s high-water mark of $390,000. Homes also tend stay on the market longer here. Just 20.2 percent of houses sold in two weeks, up just 2.4 percent year over year.

4. Waco-Temple-Bryan, TX

The Waco–Temple–Bryan metropolitan area is another newcomer to the Top 5 list this quarter. The central Texas community recorded a 41.54 percent lead delta.

More than half (a combined total of 58.66 percent) of renters who inquired about moving to this central Texas community already lived in the state. Chicagoans and New Yorkers were also interested in relocating.

A flood of out-of-state buyers, bidding wars and cash offers led to an extremely competitive housing market that drove up prices for both buyers and renters. The average rent here was $1,818 in October, the highest in the Top 10. Rent prices increased 6.26 percent from last month and jumped up 28.26 percent over last year. That’s also the largest rent increase recorded in the Top 10.

The housing market is even more volatile. While new listings are up 55.6 percent during the current survey period, the median sales price graph is a jumble of sharp peaks and deep valleys, ranging from a low of $196,000 in January to a high of 399,000 in April. And this pattern isn’t unique to 2022. Prices have spiked and fallen every few weeks since 2019.

5. Springfield, MO

Springfield, Missouri returns to the Top 5 with a 40.87 percent lead delta in Q3. That’s up from 36.98 percent in Q2 the previous quarter.

Missouri renters are interested in moving here, with a combined 36.71 percent of leads coming from within the state. Renters from Chicago, Denver and Dallas–Ft. Worth also considered moving here.

Affordable housing is no doubt part of the draw. Renters in Springfield paid an average of $844 per month for rent in October. That’s the most economical rate in the Top 10.

Buying a house in Springfield is cheaper than the national average, too. The median sale price of $248,000 is up 20 percent year over year, but down from a 2022 high of $260,000 this summer. New listings are up 94.7 percent over last year, the biggest inventory spike in the Top 10. But buyers need to act fast, since 58.3 percent of homes are off the market in two weeks.

The remaining Top 10 metros for inbound migration

The first Northeastern metro on the list is Harrisburg–Lancaster–Lebanon–York. It came in sixth with a lead delta of 40.71 percent.

The average apartment rent in this Pennsylvania community was $1,663 in October, the second highest in the Top 10. That’s down 4.43 percent from last month but holding steady year over year, logging just a 0.34 precent increase.

Housing prices are also relatively stable. The most recent median sale price of $243,000 is up 7 percent, but solidly within this year’s $208,000-$269,000 price range. Houses still sell quickly, with 66.7 percent off the market in two weeks. But new listings are down 15.9 percent.

Toledo, Ohio came in just behind at No. 7, logging a lead delta of 40.40 percent. Its housing market remains stable and affordable. New listings here are down 21.40 percent since last year and just 13.3 percent of homes are off the market in two weeks, which indicate that competition is low and buyers are in no rush. The most recent median home price was a bargain at $167,000 — the exact same price as last year.

Buying a home remains an economical option in a city where the median October rent was $1,246. That’s down 0.95 percent from September, but up 12 percent year over year.

Macon, Georgia took the eighth spot on the list with a lead delta of 39.88 percent. Median home prices hit a four-year high in 2022, but the market is prone to the same rapid price swings as Waco.

The median sale price was $200,000 in the most recent survey period, but prices have bounced between $176,000 and $236,000 this year. A lack of inventory kept home prices high in early 2022. But new listings increased 24.40 percent year over year, so more choices might give buyers a little more breathing room.

In contrast, Macon rents are decreasing. The October rate of $1,414.75 was down 1.22 percent since last month and 6.71 percent since last year.

The housing market remains competitive in Springfield–Holyoke. This Massachusetts community came in ninth with a lead delta of 39.30.

New listings were down 20.6 percent from last year, which tends to keep prices high. The metro’s median sale price of $312,000 is up 12 percent from last year, but down from a high of $325,000 this summer.

A competitive market tends to raise rents, too. That’s true in Springfield-Holyoke, where rents soared 15.15 percent from last year. But the average monthly bill of $1,611 increased just 1.03 percent from September.

The housing market is very competitive in Augusta, Georgia as well. The final metro on the Top 10 logged a lead delta of 38.70 percent.

Augusta’s median sale price was $283,000, up 16 percent over last year. But buyers here finally have a little more time to make an offer, since 38.10 percent of homes are off the market within two weeks, way down from a high of 74.40 percent this spring. But there’s now less inventory on the market, as new listings decreased 27.10 percent from last year.

Less housing inventory usually means higher home prices and rents, too. That’s not welcome news for Augusta renters, who already saw rent bills jump up 7.85 percent since last month and 8.85 percent over the last year.

The takeaway

This year has brought historically high home prices and rent increases for many renters. This quarter’s top metros for inbound migration offered more affordable housing costs, which continued to draw strong interest from renters across the country, regardless of where they currently live.

Methodology

Information on migration patterns and preferences was pulled from anonymized user data collected by Rent.’s internet listings services. For each lead submitted by a user, a record is created establishing the location of the user based on their IP address and user-selected security settings. These records are combined with information, including geographical information, about the listing of interest creating an origin-destination pair.

Outbound migration consists of a renter-to-listing pair. Inbound migration consists of a listing-to-renter pair. Where geographic information for either the renter or the listing was missing, the record was removed from this study. Aggregations were made based on renter location for outbound migration and on listing location for inbound location. Differences were calculated based on these aggregations. Only states with at least 10,000 inbound leads and only metros with at least 5,000 inbound leads were considered in this analysis.

Regional designations are based on U.S. Census regional designations which divides the nation into four geographic regions: Northeast (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont); Midwest (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin); South (Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, District of Columbia and West Virginia) and West (Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Hawaii, Utah, Washington and Wyoming)

Information included in this article is for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee.