Americans Are Voting With... U-Haul Trucks?

So I found this kind of intereting. Every year, U-Haul releases something called the Growth Index, and it gives us a pretty interesting look at where people are moving. Now, before everyone loses their mind, let me be clear: this is not Census data. It does not count every single person who moved in America or tell us exactly how many people moved into or out of each state.

What it does track is one-way U-Haul movement. In plain English, U-Haul looks at where people pick up a truck, trailer, or U-Box in one state and drop it off in another. So while it may not be perfect, it is still a pretty strong signal. People do not rent a one-way U-Haul for fun. They are moving their life somewhere.

With me so far? Okay, here's where things get interesting.

According to U-Haul's 2025 Growth Index, the pattern is hard to ignore. The top growth states were Texas, Florida, North Carolina, Tennessee, South Carolina, Washington, Arizona, Idaho, Alabama, and Georgia.

On the other end of the list were Massachusetts, New York, New Jersey, Illinois, and California. California ranked last for the sixth consecutive year.

Ouch.

Now, does that mean nobody wants to live in California, New York, New Jersey, Illinois, or Massachusetts? Of course not. These are still massive states with major job centers, universities, businesses, culture, and opportunity. California is still California. New York is still New York. But when you zoom out and look at where everyday people are choosing to move, the data tells a pretty clear story.

People are chasing affordability, space, jobs, and a better quality of life. They are looking at their income, taxes, housing costs, and monthly payment and asking a very basic question: does this still make sense?

That is the part that gets lost in a lot of housing conversations. People do not move just because a state has a cool slogan or because some influencer made a video about it. People move because life forces a decision. Can I afford to buy a home here? Can I raise my family here? Can I keep more of what I earn? Can I get a better job? Can I sell a house in one state and buy more house somewhere else?

Right now, a lot of Americans appear to be answering those questions by moving toward Texas, Florida, the Carolinas, Tennessee, Arizona, Idaho, Alabama, and Georgia. That does not mean every one of those markets is perfect. Some have higher inventory. Some have affordability issues. Some have insurance problems. Some have property tax issues. Some have a lot of new construction competing with resale homes.

But migration still matters, especially in real estate. Long-term housing demand is not just about interest rates. It is also about people. Where are they going? Where are they leaving? Where are jobs being created? Where are families trying to build a life?

Those questions matter because population movement eventually shows up somewhere. It shows up in housing demand, rents, new construction, traffic, school enrollment, local businesses, and the overall feel of a market.

Now, should you buy a house just because a state ranks high on U-Haul's list? No. Please don't do that. A U-Haul ranking does not pay your mortgage. Your income does. Your budget does. Your debt-to-income ratio does. Your reserves do. Your comfort level does.

But if you are trying to understand the bigger housing picture, migration is one of the pieces that matters. Real estate is local, but people movement is one of the reasons local markets change over time.

If a state becomes too expensive, too heavily taxed, or too difficult for normal families to afford, people eventually start looking for options. If another state gives them more space, more affordability, more job opportunity, or a better quality of life, people start paying attention.

That does not happen overnight, and it does not happen perfectly. But year after year, U-Haul data keeps showing the same general theme: people are leaving some of the most expensive states in the country and moving toward states where the math may work a little better.

That's not political. That's practical.

When the payment does not work, people move. When taxes hurt, people move. When they can sell a home in one state and buy more home in another, people move. When remote work gives them flexibility, people move. When their kids can't afford to live where they grew up, people move.

This is why the "where are people moving?" question matters so much in real estate. Housing demand is not just about today's interest rate. It is about where people believe they can build a better life.

Again, this is not Census data. It is not perfect. It is not the whole story. But it is shows patterns, and those patterns provide signals.

People are voting with their feet. Or in this case, with U-Haul trucks. And right now, the trucks are telling a pretty clear story: Americans are still chasing affordability, space, jobs, and a better quality of life.

That is not just a moving story.

That is a housing story.

And if you are thinking about making a move, I can help.

I lend nationwide, and I work with buyers all over the country. Whether you are moving across town or across state lines, I can help you understand the financing, run the numbers, and connect you with a good local real estate agent in the market you are moving to.

Schedule a time to speak with me, and I'll give it to you straight.

Jimmy V