Washington State continues to be an attractive destination, ranking #7 in the nation for inbound moves according to U-Haul migration trends in 2023. With states like Texas, Florida, and the Carolinas leading the way, the Pacific Northwest remains a popular region for relocations.

Here are the top 10 states for population growth in the US in 2023:

#1 Texas
#2 Florida
#3 North Carolina
#4 South Carolina
#5 Tennessee
#6 Idaho
#7 Washington
#8 Arizona
#9 Colorado
#10 Virginia

These are the top ten outbound markets in the US in 2023

#50 California
#49 Massachusetts
#48 Illinois
#47 New Jersey
#46 Michigan
#45 Louisiana
#44 Maryland
#43 New York
#42 Connecticut
#41 Oklahoma

While growth has cooled slightly since the pandemic peak, the Eastern Washington and North Idaho areas are still seeing population influx outpacing national averages. At their peaks, Spokane County grew by 3.6% in 2020 and Kootenai County grew by 4.3% in 2020. Both have slowed to around 1% annual growth, which outpaces the 0.53% U.S. annual population growth. The data is derived from Yardi’s analysis of U-Haul’s inbound and outbound migration trends across the country, which serve as an indicator of population growth patterns in the United States.

Additional noteworthy statistics pertaining to population shifts in various other states:

  • Texas was #1 for the 3rd year in a row and 6 of last 8 years
  • Florida was #2 and has been in the top 4 for 9 years in a row
  • Arkansas moved up 26 spots, Wyoming moved up 19 spots, and Vermont moved up 18 spots
  • California had the most people leaving for the 4th year in a row

This steady population expansion is good news for buyers and sellers of multifamily properties in the Spokane market. We are still seeing lots of people from Seattle, Portland, San Francisco, and Los Angeles move to this area due to the lower cost of living, remote work opportunities, and outdoor lifestyle. With some uncertainty in this market, it is good to know that the demand for apartment units in Spokane County has been high and is poised to remain strong in the near future. Contact me to discuss how these population trends could impact your strategy moving forward.


SVN Cornerstone Multifamily

Jordan Lester is an Associate Advisor with SVN Cornerstone. Jordan served as a brokers assistant for 3 years with SVN Cornerstone before becoming a full time broker. Jordan specializes in the multifamily sector of commercial real estate. To get in touch with Jordan, email jordan.lester@svn.com or call 509.496.6922