According to an analysis shared by Hire a Helper earlier this year, an estimated 258,000 Americans moved to retire in 2024, a 23.8% drop compared to 2023.
The study was based on the United States Census Bureau’s Current Population Survey and its Annual Social and Economic Supplements for 2024, but it cited rising mortgage rates and higher housing costs as reasons retirees struggled to sell their homes and buy new ones. The research found that moving to retire was the top cause for relocations in 2024, with 20.4% of this demographic flocking to Massachusetts and Florida, closely behind at 19.9%.
