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Title: Retiree Migration Across State Lines: 2011-2015
Citation Type: Miscellaneous
Publication Year: 2017
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Abstract: From 2011 through 2015, approximately 2.4% of the population moved from one state to another. Despite the image of retirees as being footloose, retirees were less likely to move to another state. Only 1.3% of retirees (who make up 21.1% of the population) moved to another state during this period. Cost of living, average winter temperatures and state employment growth appear to be the strongest factors determining which states retirees move to. Employment growth plays a role as many retirees continue to work in retirement and/or may follow children who have moved to states with high employment growth. Cost of living is important because retirees who move only have modestly higher average incomes than those that dont move. They are not wealthy, so cost of living is meaningful for them. Wealthy retirees move destinations do not show a strong correlation with cost of living. Some states appear to receive higher retiree migration than would be expected based on their cost of living, winter temperatures and employment growth. This may be explained by their reputation as a retirement destination. Retiree migration is also probably somewhat self-perpetuating as retirees follow friends and relatives. States with high costs of living and colder winters are also often high tax states. While taxes do not appear to be a primary driver of retiree migration, the loss or gain of income due to net retiree migration can be material relative to the difference between state revenues and expenses.
Url: https://disciplinedthinking.blogspot.com/2017/01/retiree-migration-across-state-lines.html
User Submitted?: No
Authors: Whelan, Hugh
Publisher: Disciplined Thinking
Data Collections: IPUMS USA
Topics: Aging and Retirement, Migration and Immigration
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