Step Aside, Florida: The Carolinas and Tennessee Are 2024’s Top Affordable Living Spots

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For years, Florida has been the go-to destination for people looking to escape colder climates and enjoy a lower cost of living. But according to new data, the Sunshine State's reign may be coming to an end. In 2024, a new trend has emerged: people are packing up and moving to the Carolinas and Tennessee, drawn by their more temperate climates, scenic landscapes, and, most importantly, their affordable cost of living.

The Shift from Florida to the Carolinas

During the pandemic, Florida experienced a massive influx of new residents, particularly from the northern states. The state’s warm weather, no state income tax, and relatively low cost of living made it a prime destination. In 2023, Florida dominated the list of most moved-to cities, with several locations making the Top 10.

However, recent data from PODS, a major moving company, reveals a significant shift. In 2024, the Carolinas, particularly the Myrtle Beach, SC/Wilmington, NC region, have taken the top spot as the most popular area for new residents. This region, known for its beautiful coastline and charming small towns, has now been the most moved-to destination for two consecutive years.

Not only is Myrtle Beach and Wilmington drawing in new residents, but other cities in the Carolinas are also rising in popularity. Charlotte, Raleigh, Asheville, and Greenville-Spartanburg, SC, have all secured spots in the Top 10 most moved-to cities in the country. This shift reflects a broader trend: people are seeking out more affordable places to live that still offer a high quality of life.

Why Are People Leaving Florida?

Florida’s slowdown in new residents can be attributed to several factors. One of the most significant is the rising cost of living, particularly when it comes to insurance. According to a report from digital agency Insurify, Florida's insurance rates have increased by more than 19.8% above the national average over the last two years. This spike, combined with predictions of an economic slowdown, has made Florida less attractive to potential movers.

Additionally, the real estate market in Florida is cooling. Zillow reports that the average value of a Florida home increased by only 3.3% in 2024, which is below the national average of 4.1%. This modest growth contrasts sharply with the skyrocketing home prices seen during the pandemic, further dampening the state’s appeal.

As a result, South Florida has become one of the top regions people are leaving, alongside traditionally expensive areas like Los Angeles and the San Francisco Bay Area.

Tennessee: The Rising Star

While the Carolinas are leading the charge, Tennessee is also experiencing a significant influx of new residents. Cities like Knoxville, Nashville, and the Tri-Cities area have all made the Top 20 most moved-to cities in 2024. Tennessee’s no state income tax, thriving job market, and positive economic outlook are major draws. The state is particularly popular among younger movers, with these metro areas boasting median ages in the mid-30s.

The data shows that many of the people moving to Tennessee are coming from California, Florida, and Texas, seeking a more affordable and balanced lifestyle.

Cost of Living Remains King

The primary reason people are relocating continues to be the cost of living. The most moved-from regions, such as New York’s Hudson Valley, Central New Jersey, and the Bay Area, are all facing significant cost-of-living crises. Interestingly, Austin, TX—a city that was recently touted as the next hot market—has also seen a sharp increase in move-outs, signaling that its rapid growth may have made it too expensive for some.

The New Hotspots for 2024

As we look ahead, the Carolinas and Tennessee are clearly emerging as the new affordable hotspots for 2024. With their combination of natural beauty, milder climates, and lower costs, these regions offer a compelling alternative to Florida and other traditionally popular destinations. Whether it’s the coastal allure of Myrtle Beach, the vibrant city life in Charlotte, or the country charm of Knoxville, more Americans are finding their new homes in these welcoming southern states.

As the trends continue to shift, it’s clear that affordability and quality of life are driving the decisions of those looking to relocate, making the Carolinas and Tennessee the places to watch in the coming year.