📉 Why Has U.S. Mobility Hit Historic Lows?
Only 8.4% of Americans moved in 2023, the lowest on record — and half the rate of the 1980s (17%). This marks a dramatic shift in how Americans live, work, and build wealth.
1985
~17%
High job mobility, affordable housing
2000
~13%
Dot-com boom & suburban expansion
2023
8.4%
High costs, aging population, remote work
"Folks, mobility in the U.S. is collapsing. What a huge change from the 80s!" — Neal’s Take
💸 What’s Stopping People From Moving?
Housing affordability has become the main anchor.
- Mortgage rates above 6.5% have "locked in" millions of homeowners who refinanced at 3% or below.
- Moving costs have jumped nearly 20% in the last five years, deterring renters too.
- Rental deposits + application fees now average $2,400 per move, up from $2,000 in 2018.
"It’s not that people don’t want to move—it’s that they can’t afford to. High interest rates are trapping families where they are." — Neal’s Take
🧑💻 Has Remote Work Killed Job-Driven Relocation?
In short — yes, largely.
- Remote/hybrid jobs have reduced the need for employees to relocate.
- Job-related moves now make up just 7% of all moves — down from 20% in the 1990s.
- Tech hubs and finance centers are seeing less inflow of talent, as workers choose affordability and flexibility over geography.
👨👩🦳 How Are Demographics Shaping Mobility Trends?
The U.S. population is aging — and that’s slowing things down.
- Older adults are aging in place longer than ever before.
- Fewer young renters are forming new households.
- 1 in 3 adults aged 18-34 still live with parents, delaying first moves and first mortgages.
Ages 18-29
16%
Down sharply since 2005
Ages 30-44
9%
Stable but lower than historic norms
Ages 45+
4%
Minimal change
🏘️ What Does This Mean for Real Estate Investors?
Lower mobility isn’t all bad — it’s redefining opportunity.
- Lower turnover = tighter inventory for both buyers and renters.
- Landlords can expect:
- Longer lease terms
- Reduced vacancy risk
- Higher tenant stability
- National rental vacancy rate: 6.4% (down from 7.8% a decade ago).
"Less moving means much more stability and less turnover for landlords. More long-term tenants might be the real silver lining." — Neal’s Take
📊 Summary: The New Mobility Landscape
| Factor | 1980s | 2020s | Impact |
|---|---|---|---|
| Annual mobility rate | ~17% | 8.4% | ↓ 50% |
| Mortgage rate | 9-10% | 6.5-7% | High lock-in effect |
| Job-related moves | 20% | 7% | Remote work shift |
| Median age | 30 | 39 | Fewer young movers |
| Renters moving | 25% | 16% | Higher moving costs |
💬 Final Thought
The "Great Lock-In" era is here. Americans aren’t moving — but that means investors can enjoy longer-term tenants, fewer turnovers, and more predictable cash flow.
For those playing the long game, stability might just be the new growth.