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Where’s Everyone Leaving?

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By Altrendo Images @ Shutterstock.com

Yesterday, you read about U-Haul’s annual report and discovered that the top two destination states in 2023 were Texas and Florida. But which states were residents leaving in 2023? Here’s what the report says (abridged):

California is 50th and Illinois 49th on the list for the second consecutive year, indicating those states once again witnessed the largest net losses of one-way U-Haul trucks.

“We see a lot of growth coming from the East and West Coast,” said Matt Merrill, U-Haul Area District Vice President of the Dallas Fort-Worth Metroplex and West Texas. “A lot of people moving here from California (and) New York. We also see a lot of people coming in from the Chicago markets. I think that’s a lot due to the job growth – a lot of opportunity here. The cost of living here is much lower than those areas. Texas is open for business.”

Select Northeast markets showed year-over-year migration recoveries as Maine rose 21 spots, Vermont 14 spots and Connecticut 25 spots in the U-Haul Growth Index. Yet three of the six states with the largest net losses were also in the Northeast: New York (45), Massachusetts (47) and Pennsylvania (48).

California remained the top state for out-migration, but its net loss of U-Haul trucks wasn’t as severe as in 2020. That can be partially attributed to the fact that U-Haul simply ran out of inventory to meet customer demand for outbound equipment.

The bottom ten states in U-Haul’s Growth Index were:

  1. Arkansas
  2. Michigan
  3. Louisiana
  4. Oklahoma
  5. New York
  6. Alabama
  7. Massachusetts
  8. Pennsylvania
  9. Illinois
  10. California

Action Line: It’s a bad sign when U-Haul simply runs out of trucks for people who want to leave a state. Californians can’t get out fast enough, it seems. Click here to subscribe to my free monthly Survive & Thrive letter, and be among the first to read my upcoming 2024 Super States rankings.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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