Retired moving activity had fallen by almost 25% in 2024
Based on the data, 258,000 Americans moved last year with regard to retirement, described with a known mortgage market headwind as a likely cause of the stagnation.
“Rising mortgage interest and high house prices probably played a major role,” the report explained. “In 2024, the mortgage interest rated to 7%, while the average house price reached more than $ 500,000, making it harder for pensioners to sell and pay for new houses.
“For comparison, in 2018 the mortgage interest rate was around 4.7%on average, and the average house price was around $ 382,000 – a much affordable market for pensioners.”
Hireahelper draws up this report every year on the basis of the latest census data. It said that it wants to keep track of “discovering shifts in migration patterns, the top destinations and origin and to explore the developing motivations behind retired movements.”
Among the pensioners who have chosen to move, almost a third (32.2%) moved to another state. This is almost twice the percentage with which the average American moves government lines (16.2%).
But pension -specific movements to different states also fell on an annual basis. In 2023, retired movers went to another state 41.9% of the time.
Among all new and existing pensioners, 22.7% moved somewhat in 2024, somewhat compared to the figure of the previous year of 25.3%. But the general progress of recovery when moving activities from the days of the COVID-19 Pandemie continues according to the data.
“After falling to 230,500 movements in 2021-2022, the average rose by 29.4% to 298,400 movements in 2023-2024,” the report said.
What pensioners are moving, the States Florida and Massachusetts have proven to be the most popular.
“Among all pensioners moving to a new state, Florida remained the most popular and attracted 20% of this demography,” the report explained. “No other state came close to matching its attraction. Minnesota is in a very distant second and attracts 7.1% of all pensioners who have been moved over state lines.”
But Massachusetts led the road among pensioners who wanted to move specifically for retirement, with 20.4% of all such movements that went there.
In recent months, Florida has raised an alarm about its popularity as a pension destination, because an inflow of older Americans contributes to a “silver tsunami” that could burden local services.
But the American population is also getting older, who will test certain systems and institutions against the middle of the following decade. It is estimated that the Americans aged 65 and older will surpass for the first time by 2034 who will first be 18 and younger.
