CHESTER COUNTY, PA — According to a recent report moveBuddha, a relocation tech company, 6 Chester County municipalities showed up in the top list of cities where people are moving in and out of.
The data shows that Kennett Square has the #3 highest ratio of moves in vs. out of all the Pennsylvania cities in the analysis, with about 130 moves into the city for every 100 out. The other 5 Chester County municipalities (West Chester, Exton, Downingtown, Phoenixville, and Malvern) are all seeing higher numbers of moves out than in. Of these towns, Malvern is seeing the highest proportion of exits (54 in for every 100 out), followed by Phoenixville (59 in for every 100 out).
Top 5 Moving Trends for Pennsylvania in 2022
According to the 2022 move report from moveBuddha, Florida is the top destination for those moving out of Pennsylvania. The report also finds that Lancaster is the #1 city for moves into the state, followed by Hershey and Kennett Square. Here are the top 5 moving trends for Pennsylvania in 2022:
- Florida is the top destination for those moving out of Pennsylvania, followed by moves headed to California, Texas, North Carolina, and New York.
- Retiring to Lancaster – this Pennsylvania city is #1 for moves in with 159 moves into the city for every 100 out. #2 Hershey (132 to 100) and #3 Kennett Square (130 to 100) are next in line for attracting new moves in.
- 38 of the 55 municipalities analyzed are seeing higher rates of moves out than in — with Philadelphia-area counties home to 20 of the 38.
- Levittown, Monroeville, Norristown, Pottstown, and Lebanon are all seeing 2x more moves headed out than in this 2022.
- The top 5 reasons people are moving out of Pennsylvania are:
- Retirements (22%),
- Job relocations (17%),
- Family reasons (14%),
- Housing market reasons (11%), and
- College/university (9%).
If you’re looking for a place to call home in Pennsylvania, it looks like Lancaster is the place to be—with Hershey and Kennett Square coming in at #2 and #3 respectively.
Why People Are Moving Out of Pennsylvania
It’s no secret that Pennsylvania has been struggling in recent years. An aging population, new pandemic-inspired work trends, and the high taxes and cost of living are all contributing factors to an exodus of residents from the state. In fact, Pennsylvania has seen a net outflow of residents in each of the past five years. Kennett Square and Hershey are bright spots and are seeing a positive inflow of residents, but success stories like that have been fewer and further between. A declining jobs market and the high income taxes are sending residents packing. Here are the three main reasons people moving out of Pennsylvania.
- An aging population. According to the most recent census data, Pennsylvania’s population is aging rapidly. The median age in the state is now 40 years old, four years older than the national median age of 36. This trend will only continue in the coming years as the baby boomer generation continues to enter retirement age. An aging population means fewer people in the workforce, which can lead to slower economic growth and less tax revenue for state and local governments.
- New Pandemic-inspired work trends. The COVID-19 pandemic has had a profound impact on the way we work. More people are working remotely than ever before, and many companies are rethinking their office space needs. This trend is likely to stay, even after the pandemic completely ends. As a result, states with large urban areas and expensive real estate markets are at a disadvantage when it comes to attracting new businesses and workers.
- High taxes and the cost of living. Pennsylvania has some of the highest income taxes in the country, with a top marginal rate of 3.07%. This is especially burdensome for retirees on fixed incomes who are already struggling with rising health care costs and other expenses associated with aging. The cost of living in Pennsylvania is also higher than the national average, with housing costs being a particularly significant burden for residents.
These factors are all contributing to an exodus of residents from the state. If you’re considering moving out of Pennsylvania, and more specifically out of Chester County, you’re not alone—many people are making the same decision for similar reasons.
moveBuddha’s full report can be found here.
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