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U-Haul announced its ranking of “Growth States,” aka the most popular states people are moving to, based on migration trends from one-way U-Haul truck rentals data. Texas topped the list, but Florida came in second — and Miami showed signs of growth too.
“Doral grew from 12,000 people in 2010 to approximately 58,000 in 2016. Miami grew approximately 13 percent from 2010 to 2016,” U-Haul Co. of Miami president Rainel Gonzalez told South Florida Business Journal. “You can see the growth in new businesses coming to the area and in the real estate development. Miami’s growth is evident in the amount of new restaurants and high-end shops. It is hard to believe that Miami is still growing when the real estate market is higher than other parts of the country, as well as the cost of living being high.”
Gonzalez zeroed in on Florida’s sunny weather and lack of state taxes as growth drivers too.
U-Haul’s ranking is calculated based on the net gain of one-way U-Haul truck rentals entering a state versus leaving a state during a calendar year. The migration trends data from the study is compiled from more than 1.7 million one-way U-Haul truck rental transactions that occur annually, according to the company.