People Are Moving Much less Than Ever—and It’s Costing Them Profession and Lifestyle Upgrades

When Rebecca Obeng started looking for a brand new job after ending medical coaching in Chicago, she did not count on to finish up in Cleveland.

Obeng, who’s initially from Ghana, went to medical college in Virginia after which a residency in Georgia. But the Midwest struck her as a spot to remain. The University Hospitals pathologist ended up shopping for a house in Mayfield, OH, after discovering many extra inexpensive choices than the Windy City held.

“The job was the type of structure I was looking for, but beyond that, I really liked Cleveland when I visited. I was quite surprised,” Obeng tells Realtor.com®. “It’s just very green. Not too overwhelming. And feels like it has this rich history and tradition.”

“And my rent in Chicago was pretty much what I’m paying for my mortgage now,” Obeng continues. “It ended up being a much better value in terms of housing.”

Moving for work is ubiquitous in America, and so is buying and selling the large metropolis for a extra inexpensive life elsewhere. But a recent analysis by Bank of America discovered that Americans, particularly millennials, are shunning strikes of every kind with growing frequency. And that has implications for an already challenged housing market.

According to current U.S. Census Bureau knowledge, the nation’s residential mobility price has fallen to a historic low of roughly 11%, down from the 20% annual mover price recorded through the mid-Twentieth century. This represents the bottom degree of geographic motion recorded since federal monitoring started in 1948.

Broad-based slowdown in transferring

Bank of America’s knowledge discovered a broad-based slowdown in transferring. That consists of each long-distance strikes and strikes inside cities. Millennials particularly see the sharpest pullbacks. But other than Gen Z, all age teams are more and more staying put, the info discovered.

Relocations sometimes present an increase within the spring and a trough late within the 12 months, matching the seasonal housing market cycle. But the historic form of the info has been changed by a pointy drop that has largely endured since late 2025, Bank of America discovered.

“Americans are moving less, and the slowdown is broad-based,” wrote Joe Wadford, an economist on the Bank of America Institute. But lower-income households and millennials are seeing the sharpest pullbacks.

“When people do change locales, they still favor smaller cities, especially those in the Midwest,” Wadford mentioned.

Meanwhile, those that would sometimes transfer to new properties in the identical metropolis appear to be favoring renovating their properties as an alternative of transferring, Bank of America mentioned.

The general decline in transferring means individuals are spending extra on furnishings and residential enchancment, and fewer on transferring companies, Bank of America’s inner knowledge discovered. And those that put more cash into their properties are sometimes utilizing their dwelling fairness to finance the upgrades. For occasion, with a house fairness line of credit score or HELOC loans.

Elevated mortgage charges doubtless play a task within the pattern, with householders who’ve low charges locked in reluctant to maneuver and tackle a brand new mortgage at charges of almost 7%.

Atlas Van Lines’ annual report on company relocations discovered extra staff are turning down the possibility to maneuver for work. Many of them cite transferring prices. More than 1 / 4 cited housing prices, and about the identical quantity cited mortgage charges.

Lifestyle, the info suggests, can also be an element. Atlas additionally discovered movers had a choice to be close to household. In Obeng’s case, it was an enormous plus to keep away from the day by day problem of site visitors, as she’d present in her previous cities.

Atlas Van Lines’ knowledge exhibits half of employers nonetheless wish to enhance relocations. And they’re hopeful extra employees will heat to the chance.

Midwestern edge

The Midwest has been a vivid spot in a lot of this 12 months’s housing knowledge: New properties are nonetheless being constructed and gross sales are nonetheless good, with folks interested in the affordability.

Cleveland ranked sixteenth among the many fastest-growing metros in Bank of America’s research, which famous half-percent inhabitants progress in every of the primary two quarters of 2026. Nearby cities akin to Indianapolis and Columbus noticed comparable traits.

Katie Madio, a Keller Williams actual property agent in Hudson, OH, is herself a Midwestern “boomerang,” having returned to Ohio a decade in the past after dwelling in Santa Monica.

She says social media has helped chip away on the notion that movers have to depart their way of life behind once they transfer. The area and the actions obtainable within the Midwest are a relentless issue.

“We realized the affordability here is night and day from California,” Madio says. “And I hear that a lot now; people don’t realize how much they’re going to gain when they move to the area.”

“People want to live in regions where they feel like they can be a part of the future,” says Baju Shah, CEO of the Greater Cleveland Partnership. Economic improvement organizations like his was involved with attracting jobs and tax income. But housing is the muse of that technique.

The group has convened a “talent alliance” to strategize how one can appeal to folks to the realm, whereas protecting present residents from leaving. The powerful housing market will not final perpetually. But when the market improves, the alliance desires to indicate how town’s dwelling choices can nonetheless win out. It’s inspired localities to replace their housing stock and promote a variety of housing choices.

“It’s all-around placemaking,” Shah says. “If talent has a choice, we have to create a community that appeals and towns that have housing options and affordability.”