Sunshine, beaches, and lower costs: How South Carolina became a relocation destination
Published On Feb 22, 2025, 12:00 PM
South Carolina has emerged as a prime relocation destination due to its appealing climate, beautiful beaches, and comparatively lower living costs. The state saw a net influx of 68,000 movers in 2024, making it the top market for one-way U-Haul rentals. The influx is fueled by job opportunities from expanding companies, especially in Charleston. Many movers hail from high-cost states like New York and California, attracted by warmer weather and more affordable homes, despite varying real estate prices within the state. The Charleston area, known for its retirement communities, has become particularly popular among older individuals looking for a change after unfavorable experiences in Florida.
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The influx of new residents is likely to boost the local economy, particularly in sectors such as real estate, retail, and services. This highlights opportunities in companies related to housing and construction. As more people relocate, demand for housing is expected to surge, particularly in suburban areas, leading to potential growth for real estate investment trusts (REITs) focused on residential properties.
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