Note: These searches for Reno Real Estate can result in close to 1000 listings being shown. If you have a specific price range and/or number of bedrooms/baths in mind, use the modify search button to narrow the search to minimize the listings being shown.
National moving company United Van Lines conducted a survey that found that Nevada is the second most popular destination in the Western United States for people that are moving to a new area. The Silver State was only beat out by Oregon, according to the 2015 National Movers Study.
The survey compared both inbound and outbound moves for each of the 50 states. Nevada had an inbound rate of 57%, placing it at seventh overall in the country. Oregon came in at 69%, snagging the top ranking nationwide.
This high ranking for Nevada supports the turnaround trend that the state has been experiencing. The Silver State was hit hard by job loss and real estate prices fell during the last recession. This is the fifth year in a row that Nevada has made the surveys high inbound list for people moving to a new state.
Spokeswoman for United Van Lines, Melissa Sullivan, said, “Nevada once again remained on the top 10 list of most popular moving destinations. The largest reason provided for moving to Nevada in 2015 was for a new job or job transfer, followed by retirement.”
The survey numbers not only support the strength of Nevada’s budding economy, but also the decades-long trend of people migrating out of the Midwest and Northeast. The highest rate of people moving out was held by New Jersey at 67%, closely followed by New York, Illinois, Connecticut and Ohio.
“In the last 30 to 40 years, we’ve seen a continuous trend of out migration from the Midwest and Northeast for various reasons, including the shift in manufacturing,” said Michael Stolle, a profession of public policy at the University of Nevada and consultant for United Van Lines. “For Nevada, you’re also seeing a lot of growth with the arrival of companies such as Tesla, while retirees are also attracted to the climate and more affordable housing.”
Last year Reno had an inbound rate of 56.8% for the state, hot on the heels of its southern neighbor Las Vegas which had an inbound rate of 58.9%. Studies show that retirement is the largest factor for in-migration to Nevada. Around 31% of people moving to the Silver State cited retirement as the reason, as opposed to the national average rate of 15%.
Sand Harbor, Incline Village, NV
Nevada is attractive to Baby Boomers because they value a more active lifestyle as well as to seniors who put a premium on cost. Especially for those folks who come from nearby California, as they are usually already familiar with Nevada’s costs. Home pricing is relatively low compared to other western states and coupled with no income tax it is an attractive state for retirees to move to.
Stolle expects to see the state experience even more accelerated growth moving forward as the Nevada economy continues to see improvement since the recession. Nevada held a perch as the fastest growing state in the nation before the recession. U.S. Census data released earlier this month has placed the state as fourth in the nation in population growth, just behind North Dakota, Colorado and the District of Columbia.
“I see growth trends accelerating in Nevada,” Stolle says. “It looks like economic performance will be improving in the next two to three years and, in the absence of any substantial financial market crash that has severe consequences on things like housing markets, I don’t see those trends changing at all.”