Between 2019 and 2020, nearly 29 million Americans moved to new residences within the U.S, nearly 40% of which moved to different counties or states. Rising costs of living in some cities are driving residents to more affordable locales. According to the U.S. Census Bureau, while the total U.S. population grew by 1.3% over the past three years, some places with below-average living costs grew by more than 10%.
While the total U.S. population grew by 1.3%—or about 4.4 million people—from 2017 to 2020, some cities and states experienced dramatic population growth. At the state level, Idaho and Nevada grew at the highest rates from 2017 to 2020, at 6.2% and 5.6% respectively. Both relatively low population and affordable states, Idaho gained about 107,000 residents while Nevada gained just over 166,000 during the three-year period. On the other hand, many states with above-average living costs like Hawaii, New York, New Jersey, and California saw their populations decline or stagnate over the same period.
To find the affordable states with the most population growth in recent years, researchers at Roofstock analyzed the latest population data from the U.S. Census Bureau and the latest cost-of-living data from the U.S. Bureau of Economic Analysis. The researchers ranked states according to the percentage change in population from 2017 to 2020. Researchers also calculated the total change in population from 2017 to 2020 and the cost of living.
The analysis found that the cost of living in Tennessee is 10.3% below the national average. Between 2017 and 2020, the population in Tennessee increased by 2.6%. Out of all affordable U.S. states, Tennessee experienced the 10th most population growth.
Here is a summary of the data for Tennessee:
- Percentage change in population (2017–2020): 2.6%
- Total change in population (2017–2020): 172,086
- Population 2020: 6,886,834
- Cost of living (compared to average): -10.3%
For reference, here are the statistics for the entire United States:
- Percentage change in population (2017–2020): 1.3%
- Total change in population (2017–2020): 4,361,995
- Population 2020: 329,484,123
- Cost of living (compared to average): N/A
For more information, a detailed methodology, and complete results, you can find the original report on Roofstock’s website: https://learn.roofstock.com/