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A new look at the connection between home prices and movers

By: Leslie Black-Plumeau on 8/8/2014

MoversThe share of movers within the U.S. who moved to find more affordable housing has grown in recent years, according to the New York Times. Cities like San Antonio, Oklahoma City and Raleigh-Durham have experienced substantial recent population growth, including among young adults, while their home prices became more affordable, the article explains.

Although no Vermont locations were included in the Times study, Housing Matters took a look at how Vermont’s migration patterns compare with the rest of the country. Overall, movers to Vermont from other states comprised more of our state’s current population than in other states. In fact, 13% of Vermont’s 25-34 year olds were recent movers from other states, compared to the nationwide average of 8%.

Vermont’s population gains since 2010 are entirely due to the pull of Chittenden County, according to Census Bureau estimates. However, it is unlikely that housing costs are the reason for the county’s gains. The county’s median home sales price of $256,000 is substantially higher than the $210,000 U.S. median.