Domestic Migration from 2020 to 2024
Written by Ben Bryk with Vero Premier Properties a signature division of Coldwell Banker Global Luxury Vero Beach
Imagine ditching the chaos of big-city life for pristine beaches, tax-free income, and a lifestyle that screams luxury. That's exactly what's happening as waves of wealthy Americans flood into Florida's hidden gems like Vero Beach and Hutchinson Island. While the rest of the country grapples with high costs and urban decay, these coastal paradises are booming with new residents—and billions in wealth. But what's driving this mass exodus, and why are these specific spots the hottest destinations? Let's dive into the data that reveals where Americans are choosing to move (and where they're fleeing from).
Patterns of domestic migration—where people already living in America decide to relocate—tell a powerful story about desirability, affordability, and opportunity. From 2020 to 2024, the U.S. saw massive shifts, with net domestic migration reshaping counties across the nation. The darkest green areas on migration maps represent counties gaining 10% or more of their 2020 population through net in-migration, while dark purple shows the opposite: losses of 10% or more. This data focuses solely on moves within the U.S., ignoring international inflows.
Nationwide, there are six times more dark green counties (gains) than dark purple (losses), indicating concentrated growth in desirable spots amid widespread but smaller out-migration elsewhere. Patterns often align with state borders, urban centers, or even ecological regions, highlighting how lifestyle, economy, and environment influence choices.
The Sunbelt's Unstoppable Pull – With Florida Leading the Charge
The American South dominates the migration wins, and Florida's Southern Coastal Plain is ground zero for the boom. This ecoregion, stretching along the coasts of Florida, Georgia, and South Carolina, added a staggering 1.17 million net domestic movers from 2020 to 2024—equal to 7.1% of its 2020 population. Unlike college towns or balanced areas that show little net change, Florida's appeal is legendary, drawing retirees, professionals, and high-net-worth individuals seeking sunshine, low taxes, and no state income tax.
But zoom in, and the story gets even more intriguing. Areas like Vero Beach in Indian River County and Hutchinson Island (spanning Martin and St. Lucie Counties) are prime examples of this wealth-driven surge. These Treasure Coast hotspots offer serene beaches, upscale communities, and a laid-back vibe that's attracting millionaires at an unprecedented rate.
Vero Beach: From Sleepy Town to Wealth Magnet
Vero Beach, nestled in Indian River County, has seen its population skyrocket from 16,354 in 2020 to 17,556 in 2024—a 7.3% increase. The county itself grew by about 7.0%, adding over 12,350 residents overall. Net domestic migration has been a key driver, with the area benefiting from Florida's broader influx. In the Southern Coastal Plain region encompassing Vero Beach, net domestic gains hit 7.1% of the 2020 population.
What is fueling this? Wealth migration. Florida saw $62 billion in adjusted gross income flow between 2021 and 2022 alone, far outpacing outflows. High-earners, including over 1,700 young professionals making $200,000+ in 2024, are choosing spots like Vero Beach for its affluent vibe and proximity to Miami without the madness. The county's median age and retirement appeal make it a haven for wealthy boomers relocating from high-tax states like New York, New Jersey, Connecticut, Massachusetts and California.
Hutchinson Island: Island Paradise Seeing a Wealthy Renaissance
Straddling Martin and St. Lucie Counties, Hutchinson Island is another star in Florida's migration story. Hutchinson Island South's population grew from around 4,203 in 2022 to 4,350 in 2023 (a 3.5% jump), with projections indicating continued gains amid the region's boom. Martin County added 7,236 residents cumulatively from 2020 to 2024, with net domestic migration contributing 8,832 movers. St. Lucie County exploded with 61,446 new residents—a whopping 18.7% growth—driven by 11,634 net domestic migrants in 2023-2024 alone.
This island's allure? Miles of unspoiled beaches, exclusive resorts, and a median age of 72, perfect for affluent retirees. As part of the Sunbelt surge, it's riding the wave of Florida's billionaire boom—from just 6 in earlier decades to 119 now. Tens of billions in new wealth continue pouring in, transforming these areas into playgrounds for the elite.
Rural Winners and the Remote Work Factor
Beyond Florida, rural pockets like the Upper Rockies (6.0% gain), Northwoods (3.3%), and Rural New England (2.0%) are thriving, likely thanks to remote work freeing people from urban ties. But none match the Sunbelt's scale.
Other Sunbelt hotspots include the Piedmont/Southern Appalachia (3.3% gain, 974,000 movers), Texas Triangle (3.5%, 804,000), and Greater Ozarks (3.5%, 143,000).
The Losers: Where People Are Fleeing
Contrast this with outflows from places like the Lower Mississippi (5.0% loss, 116,000 people), the 100th Meridian West (1.9% loss), and California (3.7% loss, 1.47 million net out-movers). High costs, taxes, and quality-of-life issues are pushing residents toward affordable, vibrant spots like Vero Beach and Hutchinson Island.
Florida's overall lead in migration—gaining 131,000 new residents in 2022-2023 alone—underscores its dominance. With millionaire populations surging 94% in areas like Miami and billions in wealth relocating, the Treasure Coast's Vero Beach and Hutchinson Island are the unsung heroes of this transformation. If you're thinking of moving, these spots might just be your next paradise—before everyone else catches on!
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