2025 U-Haul Growth Index

2025 U-Haul Growth Index: Where Americans Are Moving and What It Means for Real Estate

A Comprehensive Analysis for Real Estate Professionals, Investors & Home Buyers

Every year, millions of Americans vote with their moving trucks. And for the seventh time in ten years, Texans — and those heading to Texas — are making the loudest statement. The 2025 U-Haul Growth Index, compiled from over 2.5 million one-way truck, trailer, and U-Box transactions across the United States and Canada, has once again revealed the dominant migration story reshaping American real estate markets: the continued, powerful gravitational pull of the South and the Sun Belt.

For real estate agents, investors, developers, and home buyers, migration data is not just an interesting headline — it is a leading indicator of where demand is building, where inventory pressure will intensify, where home prices will rise, and where rental markets will tighten. Understanding this data gives professionals a competitive edge in advising clients, identifying investment opportunities, and positioning their businesses for growth.

This comprehensive analysis breaks down the 2025 U-Haul Growth Index state by state, region by region, and trend by trend — and translates the data into actionable real estate intelligence.

What Is the U-Haul Growth Index?

The U-Haul Growth Index is one of the most widely cited consumer-driven migration trackers in the United States. Unlike government census data, which can lag by years, the U-Haul index provides a real-time, market-based snapshot of population movement. It measures net migration by calculating the difference between one-way truck arrivals and one-way truck departures in each state.

Here is how the index works:

- Data Source: Over 2.5 million one-way transactions annually across the U.S. and Canada.
- Measurement Method: Net gain or loss of customers who rented equipment in one state and dropped it off in another.
- Key Metric: The percentage of arrivals versus departures for each state.
- Annual Release: Published each January covering the prior calendar year.
- Geographic Scope: All 50 U.S. states ranked from greatest net gain to greatest net loss.

While the index does not perfectly mirror official population statistics — not everyone who moves rents a U-Haul — it is widely regarded as a highly reliable proxy for domestic migration patterns, particularly among households making interstate moves.

The 2025 Top 10 Growth States at a Glance

The top 10 states on the 2025 U-Haul Growth Index tell a clear geographic and economic story. Eight of the top 10 are Southern states. Six are in the Southeast. Four of the top five are in the Southeast. The pattern is unmistakable: Americans are moving South and West.

StateKey 2025 Highlight1. TexasReclaims #1 for 7th time in 10 years2. FloridaClimbs 2 spots; never ranked below #4 since 20153. North CarolinaHolds strong at #3 for 3rd consecutive year4. TennesseeConsistent top-5 performer5. South CarolinaSlides 4 spots after leading in 20246. WashingtonUp 1 spot; Pacific Northwest outlier7. ArizonaDown 1 spot; Sun Belt stalwart8. IdahoUp 2 spots from #109. AlabamaSurges from #16 — biggest top-10 climb10. GeorgiaSurges from #15 into the top 10

Alabama and Georgia are notable new entrants at #9 and #10, both making significant jumps from their 2024 positions at #16 and #15 respectively. This signals growing momentum in the Deep South real estate markets — markets that many investors and agents have been watching closely for signs of breakout growth.

Texas: Reclaiming the Crown

Texas has now claimed the #1 spot on the U-Haul Growth Index seven times in the past ten years, a record that reflects the state's extraordinary economic strength, business-friendly environment, and relative housing affordability compared to coastal metros.

Key 2025 Texas migration statistics:

Metric2025 DataArrivals as % of total one-way traffic50.7partures as % of total one-way traffic49.3%Year-over-year change in arrivals+3%Year-over-year change in departures+1%Previous ranking (2024)#2 (behind South Carolina)Years ranked #1 in past decade7 of 10

What is driving people to Texas? Real estate professionals on the ground point to several powerful factors:

- No State Income Tax: Texas levies no personal income tax, making it highly attractive to remote workers and retirees relocating from high-tax states like California, New York, and Illinois.
- Housing Affordability: Despite significant price appreciation since 2020, Texas metros like San Antonio, Fort Worth, and even Houston remain far more affordable than coastal markets on a price-to-income basis.
- Job Market Depth: Texas added more than 300,000 jobs in 2024 across technology, energy, healthcare, and logistics sectors. Major employers including Tesla, Oracle, and Hewlett Packard have relocated headquarters to Texas.
- Geographic Diversity: From the Gulf Coast beaches of Corpus Christi to the Hill Country of Austin to the urban energy of Dallas-Fort Worth, Texas offers a wide variety of lifestyle environments.
- Business Climate: Texas consistently ranks among the top states for business formation and corporate relocations, driving employment-driven migration.

For real estate agents and investors, Texas offers one of the most demand-rich environments in the nation, particularly in the Dallas-Fort Worth Metroplex, Houston, Austin, and the rapidly growing suburban corridors connecting these cities.

Florida: The Perennial Powerhouse

Florida has never ranked below #4 since U-Haul began tracking growth states in 2015. In 2025, the Sunshine State climbs two spots to #2, reinforcing its status as arguably the most consistently attractive relocation destination in the country.

Metric2025 Data2025 Ranking#2 (up from #4 in 2024)Arrivals as % of total one-way traffic50.6partures as % of total one-way traffic49.4%Year-over-year change in arrivals+2%Year-over-year change in departures+1%Lowest ever ranking (since 2015)#4Years in top 5 (since 2015)10 of 10

Florida's sustained migration appeal is built on a foundation of:

- Climate and Lifestyle: Year-round warm weather, beaches, outdoor recreation, and a vibrant cultural scene continue to attract retirees, remote workers, and families.
- No State Income Tax: Like Texas, Florida levies no personal income tax, making it a magnet for high-income earners from the Northeast and Midwest.
- Diverse Housing Markets: Florida offers everything from ultra-luxury waterfront estates in Naples and Palm Beach to affordable inland communities in the Treasure Coast and Central Florida corridor.
- Strong Rental Market: Population growth has created sustained demand for rental housing, benefiting investors in both traditional and short-term rental sectors.
- Healthcare Infrastructure: Florida's world-class healthcare system is a major draw for the retiree demographic, which represents a disproportionate share of in-migrants.

For Florida real estate professionals, the 2025 data reinforces continued opportunity in markets including Tampa-St. Petersburg, Jacksonville, Orlando, Fort Myers-Cape Coral, and the entire Southwest Florida coast — all markets where AgentsGather.com maintains extensive market intelligence resources.

The Full 2025 Rankings: All 50 States

The following table presents the complete 2025 U-Haul Growth Index rankings for all 50 states. States above rank 26 are net gain states; states below rank 25 are net loss states. The 2024 ranking is shown in parentheses for year-over-year comparison.

State & 2025 RankPrior Year Performance1. Texas2024 Rank: #22. Florida2024 Rank: #43. North Carolina2024 Rank: #34. Tennessee2024 Rank: #55. South Carolina2024 Rank: #16. Washington2024 Rank: #77. Arizona2024 Rank: #68. Idaho2024 Rank: #109. Alabama2024 Rank: #16 ⬆10. Georgia2024 Rank: #15 ⬆11. Oregon2024 Rank: #34 ⬆⬆12. Montana2024 Rank: #24 ⬆13. Arkansas2024 Rank: #1214. Oklahoma2024 Rank: #1115. Maine2024 Rank: #1316. Utah2024 Rank: #9 ⬇17. Kentucky2024 Rank: #25 ⬆18. South Dakota2024 Rank: #1919. Minnesota2024 Rank: #1820. Nevada2024 Rank: #35 ⬆⬆21. Mississippi2024 Rank: #39 ⬆⬆22. New Mexico2024 Rank: #37 ⬆⬆23. Colorado2024 Rank: #40 ⬆⬆24. Vermont2024 Rank: #20 ⬇25. Indiana2024 Rank: #8 ⬇⬇26. Wisconsin2024 Rank: #2227. Alaska2024 Rank: #2728. Hawaii2024 Rank: #2629. Missouri2024 Rank: #2830. Wyoming2024 Rank: #36 ⬆31. Louisiana2024 Rank: #44 ⬆⬆32. New Hampshire2024 Rank: #3333. Delaware2024 Rank: #21 ⬇34. West Virginia2024 Rank: #3035. Iowa2024 Rank: #23 ⬇36. Virginia2024 Rank: #17 ⬇⬇37. Kansas2024 Rank: #3238. North Dakota2024 Rank: #3139. Nebraska2024 Rank: #29 ⬇40. Rhode Island2024 Rank: #3841. Michigan2024 Rank: #43 ⬆42. Connecticut2024 Rank: #4143. Ohio2024 Rank: #14 ⬇⬇⬇44. Pennsylvania2024 Rank: #46 ⬆45. Maryland2024 Rank: #4246. Massachusetts2024 Rank: #49 ⬆47. New York2024 Rank: #4748. New Jersey2024 Rank: #4849. Illinois2024 Rank: #4550. California2024 Rank: #50 (6th consecutive year at #50)

The Biggest Movers: States Rising and Falling

States Making the Biggest Gains in 2025

Several states made dramatic upward moves on the index in 2025, signaling emerging real estate opportunities that forward-thinking investors and agents should watch closely.

StateYear-Over-Year ChangeOregon+23 positions (from #34 to #11)Mississippi+18 positions (from #39 to #21)Colorado+17 positions (from #40 to #23)Nevada+15 positions (from #35 to #20)New Mexico+15 positions (from #37 to #22)Louisiana+13 positions (from #44 to #31)Montana+12 positions (from #24 to #12)Kentucky+8 positions (from #25 to #17)Alabama+7 positions (from #16 to #9)Georgia+5 positions (from #15 to #10)

Oregon's surge from #34 to #11 is the most dramatic single-year jump on the index and represents a significant reversal. After years of population loss driven by urban crime concerns, high housing costs in Portland, and tax burden issues, Oregon appears to be attracting a new wave of residents — likely those priced out of California and Washington who see Oregon's medium-sized cities like Bend, Eugene, and Salem as attractive alternatives.

Mississippi's rise from #39 to #21 is equally noteworthy. Mississippi has long been overlooked by investors and agents focused on higher-profile markets, but its exceptional affordability, low cost of living, and improving economic conditions are beginning to attract attention. Median home prices in Mississippi remain among the lowest in the nation, creating extraordinary value opportunities.

Colorado's jump from #40 to #23 suggests the Denver metro and mountain communities may be recovering from recent out-migration trends driven by high home prices and increased cost of living. The state's outdoor lifestyle appeal, strong job market in technology and aerospace, and improving affordability in secondary markets like Colorado Springs and Pueblo appear to be reigniting interest.

States with the Biggest Declines in 2025

Not all states held their ground. Several experienced significant drops that carry important warning signals for real estate markets in those areas.

StateYear-Over-Year ChangeOhio-29 positions (from #14 to #43)Virginia-19 positions (from #17 to #36)Indiana-17 positions (from #8 to #25)Iowa-12 positions (from #23 to #35)Delaware-12 positions (from #21 to #33)Nebraska-10 positions (from #29 to #39)

Ohio's collapse from #14 to #43 is the most dramatic single-year drop on the index — a stunning 29-position fall that demands analysis. In 2024, Ohio was considered a value-migration destination as remote workers sought affordable Midwest living. The reversal in 2025 may reflect multiple factors: rising Midwest winters fatigue, slower-than-expected job market growth in Columbus and Cleveland, and competition from lower-cost Southern alternatives like Alabama, Georgia, and Tennessee.

Virginia's drop from #17 to #36 is also significant, particularly for agents and investors in the Northern Virginia and Richmond markets. Rising housing costs in the DC suburbs, state income tax burden, and increasing competition from the Carolinas for remote workers appear to be eating into Virginia's appeal.

Indiana's fall from #8 to #25 erases much of the Hoosier State's pandemic-era gains. Indiana benefited significantly from Chicago-area out-migration between 2020-2023, but that trend appears to be decelerating as residents who relocated during the pandemic have now settled and fewer new Chicago-area movers are making the jump.

California: Six Straight Years at the Bottom

California ranks last for the sixth consecutive year on the U-Haul Growth Index — but with an important nuance: the state's net loss in 2025 was smaller than in 2024. This does not signal a reversal; it signals a plateau at a deeply negative level.

The factors driving California's continued out-migration are well documented:

- Housing Costs: The median home price in California exceeds $800,000 statewide, pricing out vast numbers of working and middle-class families.
- Tax Burden: California has the highest marginal state income tax rate in the nation at 13.3%, plus additional taxes on capital gains, inheritance, and property.
- Business Climate: Regulatory complexity, high operating costs, and a litigious environment continue to push businesses — and their employees — to Texas, Florida, and other lower-cost states.
- Cost of Living: From energy costs to groceries to insurance, California's overall cost of living is among the highest in the nation.
- Public Safety Concerns: Residents in major metros including San Francisco, Oakland, and parts of Los Angeles continue to cite public safety as a primary driver of relocation decisions.

The silver lining for California real estate professionals: intra-state opportunities remain strong in markets like Sacramento, the Central Valley, Riverside-San Bernardino, and other more affordable regions that continue to attract buyers priced out of the Bay Area and Los Angeles.

The Bottom 10: Where Americans Are Leaving

Understanding where people are leaving is just as important for real estate professionals as knowing where they are going. The bottom 10 states on the 2025 index present a picture of sustained population pressure that translates directly into market softness, increased inventory, and price compression.

Rank & StateNotable 2025 Context50. California6th consecutive year at the bottom49. IllinoisUp from #45 — one of few bottom-10 improvers48. New JerseyHolds steady at #4847. New YorkHolds steady at #4746. MassachusettsImproves from #4945. MarylandFalls from #42 — new entrant in bottom 1044. PennsylvaniaImproves from #4643. OhioCatastrophic fall from #1442. ConnecticutHolds at #41-42 range41. MichiganImproves from #43

Eight of the bottom 10 states are in the North. Five are in the Northeast. The geographic split between winning and losing states is stark and persistent. For agents and investors in these markets, the data does not mean these markets are without opportunity — but it does mean that pricing strategy, days-on-market expectations, and inventory management must reflect the underlying demand reality.

Geography, Politics, and Real Estate Markets

The 2025 U-Haul data continues to reflect a pattern that became pronounced after the 2020 pandemic: migration from blue states to red states, and from high-cost to low-cost markets.

Political/Geographic Metric2025 DataTop 10 Growth States with Republican Governors7 of 10Top 10 Growth States That Voted Republican in 20249 of 10Bottom 10 States with Democrat Governors9 of 10Bottom 10 States That Voted Democrat in 20247 of 10Top 10 States in Southern Geography8 of 10Bottom 10 States in Northern Geography8 of 10

It would be reductive to frame this purely as a political migration, however. The economic factors — taxes, housing costs, business climate, and cost of living — are the primary drivers. The political correlation largely reflects the fact that these economic policies tend to align with party governance in predictable ways.

For real estate professionals, the actionable insight is this: markets in Republican-governed Sun Belt states will continue to face elevated demand, tighter inventory, and sustained upward price pressure. Markets in Democrat-governed Northern states will continue to face demand headwinds, elevated days on market, and a buyer-favoring dynamic in many price points.

Real Estate Market Implications by Region

Southeast: The Nation's Hottest Real Estate Region

The Southeast continues to dominate the growth rankings. For agents and investors, the implications are significant:

- Inventory Pressure: Sustained in-migration continues to outpace new construction in many Southeast markets, keeping inventory levels historically low and supporting price appreciation.
- New Construction Opportunity: Builders in Florida, Georgia, the Carolinas, and Tennessee are aggressively expanding, creating opportunities for agents specializing in new construction sales.
- Rental Market Strength: In-migration-driven population growth creates robust demand for both single-family and multifamily rentals, particularly at workforce and mid-market price points.
- Commercial Real Estate Beneficiary: Population growth drives demand for retail, restaurant, healthcare, and office space — creating significant commercial real estate opportunities in growing submarkets.
Texas: Multiple Booming Markets
- Dallas-Fort Worth: One of the largest and most diversified metro economies in the nation, with continued strong demand across all price segments.
- Houston: Energy sector recovery and healthcare industry growth driving demand in the metro's numerous suburban markets.
- Austin: High-tech driven market experiencing some price moderation but sustained long-term demand fundamentals.
- San Antonio: Military and healthcare driven economy with stronger affordability than other Texas metros, attracting first-time buyers and investors.
- Secondary Texas Markets: Lubbock, Midland, Odessa, Tyler, and other secondary markets experiencing spillover migration from pricier metros.
Florida: Multi-Market Opportunity
- Southwest Florida (Naples, Fort Myers, Cape Coral): Post-Hurricane Ian recovery complete; luxury and investor markets experiencing renewed strength.
- Tampa-St. Petersburg: One of Florida's most balanced markets with strong employment base and diverse housing stock.
- Jacksonville: Florida's largest city by area offers tremendous value relative to South Florida while sharing the state's tax advantages.
- Orlando: Tourism-driven economy complements a strong technology and healthcare employment base; first-time buyer market is very active.
- Space Coast: Brevard County is experiencing renewed growth driven by aerospace industry employment from SpaceX, Blue Origin, and NASA.
The Carolinas: Rising Stars
- Charlotte, NC: Banking and finance hub with one of the most dynamic job markets in the Southeast; migration into Charlotte from the Northeast and Midwest continues to accelerate. https://agentsgather.com/2025-u-haul-growth-index/