The report found that California experienced the largest net loss of one-way moving companies for the fourth year in a row.
In recent years, California has experienced mass migration out of the state – a phenomenon people are calling the “California exodus.”
The Los Angeles Times reported that more than 700,000 people moved out of California between April 2020 and July 2022.
One factor is the continually rising cost of living in California, particularly in major cities like San Jose, where residents pay an average of $3,504 in monthly expenses, 71.2% more than the national average.
For the sixth time in eight years, Texas is the No. 1 growing state. DIY movers accounted for 50.4% of all U-Haul one-way traffic arriving in Texas.
According to U-Haul, Texas was the No. 1 state where people moved in 2023.
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The southern state has become a growing location for various industries, including technology and aerospace. As of 2022, Texas leads the nation as home to the most Fortune 500 companies.
Fifty-three Fortune 500 companies are headquartered in the state, and Houston and Dallas are among the five largest communities in the country, with 21 and 11 companies, respectively.
According to SmartAssest, Texas is considered a tax-friendly state because it has no income taxes. Instead, the state collects significant property and sales taxes.
For the second year in a row, Florida is ranked second on the list. According to U-Haul, the Sunshine State has been among the top four growing states for nine years in a row.
The last time it was at number 1 on the growth index was in 2019.
Similar to Texas, Florida has no state income tax and none of the cities in the state impose a local income tax.
According to U-Haul, Florida was the second largest state where people moved in 2023.
Alexander Spatari | moment | Getty Images