Locked-In Owners, Mobile Renters: Homeowners Stay Put as Renters Move 3.7x More Across Largest U.S. Cities 

Key Takeaways: 

• By 2024, renters were more mobile than homeowners in all 100 of the largest U.S. cities — underscoring a gap that widened significantly since 2019. 
• In 41 of the 100 largest cities, owner mobility fell while renter mobility rose to become the dominant pattern shaping today’s housing market. 
• Port St. Lucie, Fla., recorded the sharpest divergence: Renter mobility surged 8.61 percentage points (pp) while owner mobility dropped, flipping a market where owners were more mobile than renters prior to the pandemic. 
• Newark, N.J. saw the steepest owner mobility decrease in the study— down 2.97 pp — while Chandler, Ariz., recorded the sharpest renter mobility drop at 7.46 pp. 
• A smaller group of 16 cities bucked the trend entirely with owner mobility rising as renter movement declined, led by North Las Vegas, Nev. 

National Context

Long-Distance Owner & Renter Mobility Between 2019-2024

To understand how residential in-migration has evolved across the U.S. in recent years, we analyzed long-distance homeowner and renter mobility rates in the 100 largest cities between 2019 and 2024 — a period shaped by the pandemic, remote work, significant changes in mortgage rates and shifting housing dynamics. 

Specifically, we focused on long-distance moves (across counties, states or international borders) to capture more meaningful relocation decisions, rather than routine, local moves. We analyzed data through 2024, as it is the most recent year available from the U.S. Census Bureau. The mobility change from 2019 to 2024 is expressed in percentage points (pp), showing the difference between the share of owners and renters who moved in 2019 and the share who moved in 2024.

By 2024, renters were more mobile than homeowners in every city analyzed, moving at roughly 3.7 times the homeowner rate, on average. More than just a broad trend, this growing divide is the main trend shaping today’s housing market. In fact, 41 of the 100 largest cities saw owner mobility decline at the same time as renter mobility increased, marking the dominant pattern in U.S. housing market during that period. 

Why 2019-2024? The 2019-2024 data captures the period when the owner-renter mobility gap widened, and that story still holds today: Mortgage rates remain above 6%, with no Fed relief in sight and rent growth has slowed to its weakest pace since 2020. In other words, owners are still facing the mortgage rate lock-in effect and affordability pressures, while renters are operating in a softer, more flexible market — reinforcing the trends highlighted in this study.

Mobility Patterns: 100 Largest U.S. Cities

National Mobility Patterns Dominated by Locked-In Owners & Increasingly Mobile Renters

To better understand how these trends played out locally, we grouped cities into four distinct categories:

Cities where owner mobility decreased while renter mobility increased: In 41 large U.S. cities, homeowners grew less likely to move, held back by high mortgage rates and affordability challenges. At the same time, renters were on the move more often, responding to changing costs, new housing options and continued in-migration — widening the gap between the two groups.

Cities where both owner and renter mobility increased: In 23 markets, movement picked up across the board. These cities tended to attract new residents and offered conditions that made it easier for both renters and buyers to make a move.

Cities where both owner and renter mobility decreased: In 20 large cities, moving became harder for everyone. Limited supply, tough competition and broader economic pressures slowed relocation for both homeowners and renters, leading to a general cooling of housing activity.

Cities where owner mobility increased while renter mobility decreased: In 16 cities, improving conditions encouraged more homeowners to buy and relocate. Meanwhile, renters faced a steadier market, giving them fewer reasons to move frequently.

This framework highlights how national trends interact with local market conditions to shape mobility patterns across U.S. cities. Additionally, it’s worth noting that regional dynamics play an important role. For instance, markets that experienced strong pandemic-era migration — particularly in Florida and Texas — are now showing signs of cooling.

Owner Down / Renter Up

Locked-In Owners, On-the-Move Renters Drive Widest Mobility Gaps

The most common pattern across the 100 largest U.S. cities highlights a growing divide in the housing market: Homeowners are moving less, while renters are moving more often. Accordingly, in 41 cities, long-distance owner mobility fell, while renter mobility rose from 2019 to 2024. 

The trend reflects housing markets in which the mortgage lock-in effect and affordability pressures are making homeownership — and upgrading — more difficult. At the same time, renters in these markets remained more mobile amid strong in-migration, new rental supply and shifting costs. This divide was especially pronounced across the South, where a large number of cities saw a significant divergence between hindered owner movement and increased renter mobility. 

Port St. Lucie, Fla., recorded the sharpest owner-renter mobility divergence among the 100 largest cities. Its owner mobility rate fell by 1.25 pp between 2019 and 2024, while renter mobility jumped by 8.61 pp for the largest increase in long-distance renter migration among the country’s 100 largest cities.   

The reversal was especially striking because Port St. Lucie was the only city in the U.S. where homeowners moved more than renters before the pandemic. By 2024, even that exception had collapsed. Rising mortgage rates and high property tax pressure weighed on homeowners. Meanwhile, a wave of new rental supply met growing demand from retirees and remote workers, giving renters more opportunities to relocate.

Other Florida cities followed the same pattern between 2019 and 2024. In Jacksonville, reports showed that homes were overvalued by 30%, which made it more challenging for owners to buy new properties. During the same period, the rise in build-to-rent completions expanded available options for tenants. So, as rental supply increased in a market with an already large renter base, renters had more room to move, even as owner turnover slowed.

Similarly, homeowner mobility also decreased in St. Petersburg, as rapid home price appreciation pushed the market into competitive territory that priced out buyers and reduced owner turnover. Meanwhile, rent growth began to cool from its post-pandemic highs, but renter mobility still rose because demand remained strong and tenants had slightly more flexibility to move than they did during the market’s most overheated phase.    

In Winston-Salem, N.C., a $257,000 median home price and a $1,278 average rent made it one of the more affordable cities in the study — and renter mobility surged 7.57 percentage points, one of the largest increases among major U.S. cities. But even in this affordable market, the rate lock-in effect held: Homeowner mobility dipped slightly as existing homeowners had little incentive to give up low-rate mortgages.

Down in Georgia, Atlanta’s renter mobility also increased significantly (5.91 pp), while owner mobility slipped slightly. Here, renter demand remained strong during and and after the pandemic, as many suburban renters  relocated to the city for job opportunities and a less expensive cost of living. 

In the West, the same split was driven less by relative affordability and more by the high cost of ownership. Scottsdale, Ariz., saw one of the steepest owner mobility declines in the country — down 1.64 pp — while renter mobility rose by 3.41 pp. In this case, wealth migration, limited inventory and an influx of luxury buyers pushed the median sale price above $900,000, making ownership increasingly challenging even as the rental market remained active, with the average rent surpassing $2,000 per month.    

Owner & Renter Up

Across-the-Board Mobility Gains Signal High-Demand, High-Opportunity Markets

In 23 markets, both homeowners and renters moved more between 2019 and 2024, signaling broadly favorable or fast-moving conditions. That’s because strong job growth, in-migration and expanding housing supply supported activity across both segments, thereby enabling greater flexibility for households to relocate, regardless of tenure. 

It’s worth noting that, even in these markets, renter mobility increases outpaced owner mobility gains, further reinforcing the broader trend: Average increases for the 23 cities in this category reached 2.06 pp for renters, compared to 0.77 pp for homeowners.

As an example, Greensboro, N.C., saw its renter mobility roughly double from pre-pandemic times (+8.22 pp) as population growth, a cost of living lower than the national average and $1,300 per month rent rates supported rental demand. The same factors also drove movement among owners as the city recorded the largest owner mobility increase (+2.91 pp) among the 100 cities in our dataset. 

Moreover, Greensboro’s median sale price, which stood below the $300,000 mark, provided homeowners with relatively accessible entry points in the housing market, as well as more room to move without constraints.  

Likewise, in Plano, Texas, both renter and owner mobilities went up between 2019 and 2024. Especially on the renter side, mobility increased 4.97 pp, reflecting the Dallas-Fort Worth region’s strong mix of job growth, in-migration and apartment construction. Meanwhile, owner mobility also edged up 1.68 pp.

Out West in Stockton, Calif., renter mobility rose by 4.13 pp, while homeowner mobility also increased by 1.37 pp, making it one of the clearest examples of a more active market. Notably, during the pandemic, Stockton absorbed spillover demand from the Bay Area as buyers and renters sought more accessible  options, driving both home purchases and rental turnover.  

On the opposite coast, a similar dynamic played out in Miami, Fla., where renter mobility increased by 5.08 pp, supported by strong in-migration and a highly competitive rental market during the pandemic years which pushed the average rent to almost $2,700 per month. Plus, limited supply and rapid population growth pushed rents higher, driving frequent renter turnover. At the same time, owner mobility also edged up by 0.68 pp as continued demand fueled by in-migration supported transaction activity, even as the market began to cool. 

Staying on the East Coast, both renters and homeowners in Durham, N.C., became more mobile as the city’s economy continued to expand. More precisely, renter mobility rose by 4.82 pp, driven by population growth and increasing educational attainment tied to the Research Triangle. This steady inflow of residents supported both rental demand and homebuying activity, resulting in higher mobility across the board. 

Chicago, Ill., also recorded rising mobility among both owners and renters, reflecting renewed urban demand. In particular, rental activity picked up, supported by stabilized rents and higher occupancy than the national average. However, in Chicago, stabilized rents didn’t indicate weak demand so much as a more workable market for tenants returning to the city after peak pandemic outflows.  What’s more, rising homeowner mobility reflects continued in-migration into higher-income neighborhoods, as Chicago’s job opportunities and relative affordability compared to other coastal hubs support homebuying activity.

Owner & Renter Down

Slowing Housing Markets Stall Mobility for Both Owners & Renters

In a smaller group of 20 cities, both owner and renter mobility declined, pointing to broader slowdowns in housing activity where the mortgage lock-in effect and general financial pressures limited movement across the board. 

Newark, N.J., recorded the steepest owner mobility drop in the entire dataset after falling 2.97 pp to align with a recorded 41.4% drop in home sales turnover across its metro. Here, institutional buyers accounted for a large share of home sales, further reducing opportunities for traditional buyers and limiting homeowner mobility. The $578,000 median sale price also hindered prospective buyers, making it harder for them to relocate in the area.  

Moreover, unemployment rates in the New Jersey area edged to a four-year high in 2025, reaching 5.4% and further discouraging in-migration. 

Across the country in Chandler, Ariz., rising housing costs weighed heavily on both segments of the market, with renter mobility dropping by 7.46 pp — the most drastic decline among the 100 largest cities. This was partly driven by the fact that over 43% of renters have become cost-burdened in Chandler. At the same time, higher mortgage rates, along with surging home prices across the Phoenix metro during and after the pandemic, limited both renters’ ability to relocate and homeowners’ capacity to upsize. 

Similarly, Lubbock, Texas, also recorded one of the most drastic decreases in renter mobility (-5.16 pp) among the 100 cities analyzed, in addition to a 1.24 pp drop in homeowner mobility. In this case, the city experienced a cooling housing market with fewer sales after peak pandemic years, as well as slower in-migration as job growth moderated and enrollment growth cooled at Texas Tech University. 

These factors — paired with the rise in inventory that reflected weaker demand, rather than expanding opportunity — led to a saturated rental market  with average rents standing at $1,135 a month, and the need for relocation among renters decreased.   

Meanwhile, in Aurora, Colo., trends mirrored those seen across the Denver metro area: Elevated mortgage rates and earlier price appreciation created a lock-in effect among homeowners and discouraged movement, which resulted in a 1.35 pp drop in the owner mobility rate between 2019-2024. 

At the same time, the decrease in renter mobility was even more significant at -3.74 pp. That’s because the rental market in this area softened with increasing vacancy rates and declining rent growth as new supply entered the market, thus reducing the urgency for renters to relocate.  

Owner Up / Renter Down

Active Home Sales Meet Cooling Rental Turnover in Diverging Markets

Representing the smallest category in our dataset, 16 cities went against the main trend with rising owner mobility and declining renter movement. This mostly reflected a combination of stabilizing or expanding inventory for buyers and softening rental demand or increased supply, reducing turnover among renters. 

In Virginia Beach, Va., homeowner mobility rose by 2.36 pp, likely driven by demand surrounding its military sector, while renter mobility fell by 4.20 pp. Its relatively stable housing market — where the median sale price aligned with the national average of $400,000 — helped keep ownership attainable and supported transaction activity. 

Virginia Beach also illustrates how additional rental supply could reduce renter turnover when demand cools. Specifically, as post-pandemic inventory growth raised vacancy and eased competition, renters had fewer reasons to move, even as the ownership side remained relatively active.  

Kansas City, Mo., was another large urban center where owner mobility increased (1.26 pp), even as renter mobility declined (4.07 pp), reflecting diverging conditions between tenure types. The Kansas City housing market remained relatively active, supported by a moderate median sale price of $258,000 and sustained demand, which allowed buyers and sellers to make transactions more freely than they could have in higher-cost markets. 

That said, a slowdown in rent growth year-over-year, along with rents hovering around a relatively affordable $1,300 per month, reduced the pressure for renters to move and consequently contributed to lower renter mobility.

At the same time, homeowner mobility increased by a notable 2.58 pp in North Las Vegas, Nev., while renter mobility fell 1.09 pp. According to the U.S. Department of Housing and Urban Development (HUD), North Las Vegas was the fastest-growing city in its metro, and the overall owner-household growth averaged 2.3% per year since 2020. But, renter-household growth slowed, hindering mobility among tenants.  

In Irvine, Calif., the same pattern was driven by tight, expensive coastal markets and the luxury segment. Irvine, in particular, reached a median sale price of more than $1.6 million, appealing to wealthier buyers who are less likely to be deterred by rising mortgage rates or socioeconomic factors that tend to keep most buyers locked in. Additionally, elevated rents of almost $3,300 per month and a competitive market may have reduced turnover among renters as tenants opted to stay in place, rather than face higher costs elsewhere. 

Looking Ahead

A Divide That May Outlast Rate Cuts

The most important story in migration and mobility in recent years is the growing split between owners and renters. As mortgage rates climbed and home prices stayed high, more owners were locked in, while renters remained the more mobile group.

Granted, that gap could narrow somewhat if mortgage rates ease, giving more owners a reason to sell and move. But, unless conditions improve more broadly — through lower prices, more inventory or both — the divide is unlikely to disappear in the near future. In other words, lower rates may loosen the market, but they’re unlikely to fully reverse the trend on their own.

Complete Dataset

Mobility Trends Across The 100 Largest U.S. Cities 2019-2024

City	State	Median Sale Price 2025	Average Rent 2025	2019 Owner Mobility Rate	2024 Owner Mobility Rate	Owner Mobility Rate Change	2019 Renter Mobility Rate	2024 Renter Mobility Rate	Renter Mobility Rate Change	Mobility Gap Change (Owner-Renter)
Port St. Lucie	FL	$406,000	$2,131	6.59%	5.34%	-1.25 pp	4.04%	12.65%	8.61 pp	-9.85 pp
Winston-Salem	NC	$257,000	$1,278	3.62%	3.00%	-0.63 pp	7.61%	15.19%	7.57 pp	-8.2 pp
Atlanta	GA	$425,000	$1,814	4.52%	4.46%	-0.06 pp	12.63%	18.54%	5.91 pp	-5.97 pp
Greensboro	NC	$289,000	$1,318	1.89%	4.80%	2.91 pp	8.23%	16.45%	8.22 pp	-5.31 pp
Scottsdale	AZ	$908,000	$2,070	4.24%	2.60%	-1.64 pp	9.20%	12.61%	3.41 pp	-5.05 pp
Omaha	NE	$280,000	$1,306	2.80%	2.65%	-0.15 pp	8.66%	12.97%	4.31 pp	-4.46 pp
Buffalo	NY	$170,000	$1,504	2.66%	1.18%	-1.48 pp	4.37%	7.30%	2.93 pp	-4.4 pp
Miami	FL	$577,000	$2,696	2.05%	2.73%	0.68 pp	4.45%	9.53%	5.08 pp	-4.4 pp
Durham	NC	$408,000	$1,539	3.07%	3.74%	0.68 pp	15.11%	19.93%	4.82 pp	-4.15 pp
Lexington	KY	$343,000	$1,350	2.96%	2.42%	-0.54 pp	12.90%	16.41%	3.52 pp	-4.06 pp
Jacksonville	FL	$315,000	$1,482	3.92%	3.38%	-0.54 pp	9.10%	12.54%	3.44 pp	-3.98 pp
St. Petersburg	FL	$350,000	$2,015	3.79%	3.51%	-0.28 pp	12.72%	16.26%	3.54 pp	-3.82 pp
San Antonio	TX	$268,000	$1,269	2.45%	2.31%	-0.15 pp	7.18%	10.83%	3.66 pp	-3.8 pp
El Paso	TX	$250,000	$1,108	2.89%	1.56%	-1.33 pp	6.98%	9.41%	2.43 pp	-3.75 pp
Dallas	TX	$425,000	$1,578	2.11%	1.77%	-0.34 pp	9.31%	12.66%	3.35 pp	-3.69 pp
Seattle	WA	$865,000	$2,298	3.19%	2.31%	-0.87 pp	11.87%	14.52%	2.65 pp	-3.53 pp
Louisville	KY	$263,000	$1,310	2.48%	1.84%	-0.65 pp	6.42%	9.24%	2.82 pp	-3.46 pp
Orlando	FL	$385,000	$1,860	4.38%	2.98%	-1.40 pp	8.98%	10.95%	1.97 pp	-3.37 pp
Boston	MA	$880,000	$3,885	4.17%	3.33%	-0.83 pp	11.18%	13.70%	2.51 pp	-3.35 pp
Plano	TX	$499,000	$1,676	2.90%	4.58%	1.68 pp	15.13%	20.11%	4.97 pp	-3.3 pp
Nashville	TN	$520,000	$1,812	3.87%	3.47%	-0.39 pp	12.72%	15.60%	2.89 pp	-3.28 pp
Detroit	MI	$95,000	$1,326	2.50%	2.21%	-0.29 pp	4.00%	6.93%	2.93 pp	-3.23 pp
Raleigh	NC	$450,000	$1,567	2.99%	2.16%	-0.83 pp	12.17%	14.56%	2.38 pp	-3.21 pp
Columbus	OH	$248,000	$1,328	2.82%	2.33%	-0.49 pp	7.46%	10.08%	2.62 pp	-3.11 pp
Chicago	IL	$380,000	$2,437	1.16%	1.42%	0.27 pp	5.01%	8.12%	3.10 pp	-2.84 pp
Henderson	NV	$481,000	$1,652	4.31%	3.31%	-1.00 pp	9.20%	11.02%	1.82 pp	-2.81 pp
Stockton	CA	$460,000	$1,670	1.53%	2.90%	1.37 pp	3.09%	7.22%	4.13 pp	-2.76 pp
Austin	TX	$518,000	$1,633	2.91%	2.15%	-0.76 pp	13.28%	15.18%	1.90 pp	-2.66 pp
Arlington	VA	$700,000	$2,672	4.93%	3.14%	-1.78 pp	20.56%	21.38%	0.82 pp	-2.6 pp
Anaheim	CA	$885,000	$2,465	3.24%	1.03%	-2.21 pp	3.82%	4.16%	0.34 pp	-2.55 pp
New Orleans	LA	$305,000	$1,401	3.32%	3.14%	-0.19 pp	8.15%	10.43%	2.28 pp	-2.47 pp
Anchorage	AK	$403,000	$1,514	3.80%	3.62%	-0.18 pp	11.25%	13.52%	2.28 pp	-2.46 pp
Wichita	KS	$235,000	$942	2.79%	2.94%	0.15 pp	6.96%	9.55%	2.59 pp	-2.44 pp
St. Louis	MO	$235,000	$1,284	3.90%	3.53%	-0.37 pp	10.92%	13.00%	2.07 pp	-2.44 pp
Jersey City	NJ	$700,000	$3,721	3.00%	2.33%	-0.67 pp	8.06%	9.74%	1.69 pp	-2.36 pp
Enterprise	NV	$475,000	$0	3.61%	3.00%	-0.61 pp	6.35%	8.05%	1.69 pp	-2.3 pp
San Francisco	CA	$1,375,000	$3,635	2.59%	2.19%	-0.39 pp	8.75%	10.65%	1.90 pp	-2.3 pp
Glendale	AZ	$413,000	$1,379	1.85%	1.43%	-0.43 pp	7.07%	8.67%	1.60 pp	-2.03 pp
Phoenix	AZ	$425,000	$1,485	2.09%	1.80%	-0.28 pp	6.11%	7.84%	1.73 pp	-2.01 pp
Gilbert	AZ	$574,000	$1,766	3.07%	2.41%	-0.66 pp	13.22%	14.29%	1.07 pp	-1.73 pp
Corpus Christi	TX	$275,000	$1,160	2.31%	1.10%	-1.22 pp	7.79%	8.28%	0.49 pp	-1.71 pp
Indianapolis	IN	$220,000	$1,258	2.75%	2.98%	0.23 pp	7.24%	9.10%	1.86 pp	-1.62 pp
Minneapolis	MN	$350,000	$1,726	3.61%	2.61%	-1.00 pp	11.78%	12.40%	0.62 pp	-1.62 pp
Cincinnati	OH	$250,000	$1,424	2.49%	3.02%	0.53 pp	10.46%	12.60%	2.15 pp	-1.62 pp
Newark	NJ	$578,000	$1,727	4.22%	1.25%	-2.97 pp	5.33%	3.96%	-1.37 pp	-1.6 pp
Washington DC	DC	$675,000	$2,476	4.24%	2.87%	-1.37 pp	11.29%	11.17%	-0.12 pp	-1.25 pp
Denver	CO	$590,000	$1,889	5.23%	3.12%	-2.12 pp	16.05%	15.18%	-0.87 pp	-1.24 pp
Memphis	TN	$202,000	$1,121	1.65%	1.31%	-0.34 pp	4.04%	4.93%	0.90 pp	-1.24 pp
Bakersfield	CA	$375,000	$1,573	3.06%	1.67%	-1.38 pp	3.44%	3.15%	-0.29 pp	-1.09 pp
Milwaukee	WI	$197,000	$1,587	1.61%	1.18%	-0.43 pp	5.19%	5.83%	0.65 pp	-1.08 pp
Spokane	WA	$401,000	$1,436	3.98%	3.31%	-0.67 pp	7.95%	8.33%	0.38 pp	-1.05 pp
Houston	TX	$335,000	$1,347	1.59%	1.90%	0.31 pp	7.88%	9.04%	1.17 pp	-0.86 pp
Baltimore	MD	$240,000	$1,635	3.86%	3.62%	-0.24 pp	6.88%	7.47%	0.59 pp	-0.83 pp
LONG BEACH	CA	$790,000	$2,690	1.72%	1.54%	-0.17 pp	3.19%	3.84%	0.65 pp	-0.82 pp
Mesa	AZ	$441,000	$1,467	3.10%	4.08%	0.98 pp	7.43%	9.22%	1.79 pp	-0.81 pp
Portland	OR	$500,000	$1,727	4.41%	2.76%	-1.65 pp	11.89%	10.98%	-0.91 pp	-0.74 pp
San Diego	CA	$910,000	$2,986	2.37%	1.88%	-0.49 pp	7.53%	7.75%	0.22 pp	-0.71 pp
Philadelphia	PA	$220,000	$1,984	1.87%	2.16%	0.29 pp	7.50%	8.38%	0.88 pp	-0.59 pp
Irving	TX	$375,000	$1,484	2.77%	1.51%	-1.26 pp	11.68%	10.96%	-0.72 pp	-0.54 pp
Chula Vista	CA	$790,000	$2,621	2.13%	1.76%	-0.37 pp	3.94%	3.93%	-0.01 pp	-0.36 pp
Cleveland	OH	$120,000	$1,480	1.10%	1.78%	0.68 pp	5.47%	6.49%	1.03 pp	-0.35 pp
Sacramento	CA	$460,000	$1,894	4.32%	3.23%	-1.09 pp	7.96%	7.16%	-0.80 pp	-0.29 pp
LOS ANGELES	CA	$1,030,000	$2,773	1.14%	1.26%	0.12 pp	3.67%	4.03%	0.36 pp	-0.23 pp
Oklahoma City	OK	$237,000	$1,034	3.69%	4.07%	0.38 pp	12.41%	12.94%	0.53 pp	-0.15 pp
New York	NY	$800,000	$3,809	1.77%	1.96%	0.19 pp	5.11%	5.39%	0.28 pp	-0.09 pp
Santa Clarita	CA	$800,000	$2,592	0.91%	2.11%	1.20 pp	4.23%	5.47%	1.25 pp	-0.04 pp
Tulsa	OK	$247,000	$1,001	2.33%	2.88%	0.55 pp	10.81%	11.32%	0.51 pp	+0.04 pp
Tucson	AZ	$343,000	$1,261	1.91%	2.80%	0.89 pp	8.37%	9.20%	0.84 pp	+0.05 pp
Norfolk	VA	$360,000	$1,578	5.66%	5.41%	-0.25 pp	15.60%	15.27%	-0.33 pp	+0.08 pp
Albuquerque	NM	$360,000	$1,368	1.69%	2.79%	1.09 pp	6.90%	7.80%	0.90 pp	+0.19 pp
Madison	WI	$462,000	$1,804	1.65%	2.33%	0.68 pp	12.43%	12.88%	0.45 pp	+0.23 pp
Santa Ana	CA	$870,000	$2,737	1.20%	1.02%	-0.18 pp	3.03%	2.62%	-0.41 pp	+0.23 pp
Fresno	CA	$399,000	$1,622	1.97%	2.19%	0.22 pp	4.00%	3.91%	-0.09 pp	+0.31 pp
San Jose	CA	$1,350,000	$3,127	2.01%	1.79%	-0.22 pp	6.69%	6.11%	-0.58 pp	+0.35 pp
Las Vegas	NV	$390,000	$1,457	2.85%	2.76%	-0.09 pp	7.37%	6.91%	-0.46 pp	+0.38 pp
Fort Worth	TX	$329,000	$1,452	3.15%	3.86%	0.71 pp	8.70%	8.81%	0.11 pp	+0.6 pp
Arlington	TX	$332,000	$1,349	2.08%	2.77%	0.69 pp	8.48%	8.42%	-0.06 pp	+0.75 pp
Toledo	OH	$145,000	$966	3.17%	4.37%	1.20 pp	7.32%	7.74%	0.41 pp	+0.78 pp
Garland	TX	$282,000	$1,440	1.24%	1.81%	0.57 pp	5.66%	5.41%	-0.26 pp	+0.83 pp
Oakland	CA	$725,000	$2,576	3.01%	3.30%	0.30 pp	6.70%	6.02%	-0.68 pp	+0.98 pp
Pittsburgh	PA	$225,000	$1,640	1.67%	1.56%	-0.11 pp	12.61%	11.32%	-1.29 pp	+1.17 pp
Charlotte	NC	$420,000	$1,661	2.88%	3.07%	0.19 pp	12.49%	11.46%	-1.03 pp	+1.22 pp
Colorado Springs	CO	$473,000	$1,495	4.48%	3.68%	-0.80 pp	18.75%	16.09%	-2.65 pp	+1.85 pp
Riverside	CA	$659,000	$2,219	2.48%	2.71%	0.23 pp	6.06%	4.33%	-1.73 pp	+1.96 pp
Reno	NV	$580,000	$1,750	2.36%	2.33%	-0.02 pp	13.12%	10.97%	-2.15 pp	+2.13 pp
Laredo	TX	$278,000	$0	0.71%	0.69%	-0.02 pp	5.91%	3.69%	-2.22 pp	+2.2 pp
Aurora	CO	$460,000	$1,676	6.23%	4.88%	-1.35 pp	18.28%	14.54%	-3.74 pp	+2.39 pp
St. Paul	MN	$301,000	$1,518	4.52%	3.80%	-0.72 pp	15.59%	12.35%	-3.25 pp	+2.53 pp
Honolulu	HI	$714,000	$2,102	1.60%	2.56%	0.96 pp	9.68%	7.88%	-1.79 pp	+2.75 pp
Lincoln	NE	$290,000	$1,335	1.42%	2.12%	0.70 pp	12.86%	10.66%	-2.20 pp	+2.9 pp
Tampa	FL	$385,000	$1,909	2.12%	3.80%	1.69 pp	12.55%	11.20%	-1.34 pp	+3.03 pp
Boise	ID	$530,000	$1,670	3.38%	3.82%	0.44 pp	14.31%	11.25%	-3.06 pp	+3.49 pp
North Las Vegas	NV	$370,000	$1,576	1.89%	4.48%	2.58 pp	7.60%	6.51%	-1.09 pp	+3.68 pp
Irvine	CA	$1,638,000	$3,293	3.09%	3.82%	0.73 pp	13.78%	10.72%	-3.05 pp	+3.79 pp
Lubbock	TX	$218,000	$1,135	4.18%	2.94%	-1.24 pp	17.83%	12.67%	-5.16 pp	+3.92 pp
Fort Wayne	IN	$222,000	$1,180	1.81%	2.03%	0.22 pp	9.88%	5.99%	-3.90 pp	+4.12 pp
Chesapeake	VA	$430,000	$1,778	6.26%	6.38%	0.12 pp	16.06%	11.94%	-4.12 pp	+4.24 pp
Kansas City	MO	$258,000	$1,342	3.18%	4.44%	1.26 pp	15.35%	11.28%	-4.07 pp	+5.32 pp
Virginia Beach	VA	$400,000	$1,747	3.09%	5.45%	2.36 pp	17.03%	12.83%	-4.20 pp	+6.56 pp
Chandler	AZ	$529,000	$1,690	2.72%	2.31%	-0.40 pp	15.38%	7.92%	-7.46 pp	+7.05 pp

Methodology 

To compile this study, we used data from the U.S. Census Bureau: American Community Survey (ACS) 1-Year Estimates, Table B07013 — Geographical Mobility in the Past Year by Tenure for Current Residence, 2019 and 2024.   

We analyzed inbound migration across the 100 largest U.S. cities based on population and looked at the total number of long-distance movers (both owner and renters) who moved from a different county within the same state; moved from a different state; or moved from abroad. To ensure relevance, we excluded owners and renters who moved within the same county.    

For each of the 100 cities we calculated:   

• The owner mobility rate: Owner movers divided by total owner-occupied housing units   
• The renter mobility rate: Renter movers divided by total renter-occupied housing units   

To determine the changes in mobility rates between 2019 and 2024 and establish the difference in percentage points, we applied the following formula:   

• Owner mobility rate = Owner mobility rate 2024 minus owner mobility rate 2019   
• Renter mobility rate = Renter mobility rate 2024 minus renter mobility rate 2019   

We applied city-level data to ensure a relevant and accurate analysis, as metro aggregation could potentially mask the sharpest divergencies in mobility due to the differences between a metro’s largest city, satellite communities and suburbs.

City-level median sale prices were sourced from proprietary data.

City-level average rent prices were provided by RentCafe.

---

FAQs

1. What is homeowner/renter mobility?
In this study, homeowner and renter mobility refer to the share of owner-occupied or renter-occupied households whose householder moved into their current home during the analyzed years. PropertyShark looks only at long-distance moves, from another county, another state or abroad.

2. What is the mortgage lock-in effect?
The mortgage lock-in effect happens when homeowners with low fixed-rate mortgages are less willing to sell and move because buying another home would mean taking on a new mortgage at a much higher rate. That higher borrowing cost can reduce home sales and homeowner mobility by making a move financially less attractive.

3. Were renters more mobile than homeowners in large U.S. cities?
Yes, in 2024, renters were more mobile than homeowners in every city analyzed and moved at roughly 3.7 times the homeowner rate, on average. This shows a widening gap between the two groups across major U.S. housing markets.

4. What was the most common mobility trend between 2019 and 2024?
The most common pattern was owner mobility falling while renter mobility rose. This happened in 41 of the 100 largest U.S. cities, making it the defining mobility trend in the dataset.

5. Which cities saw the biggest owner and renter mobility changes?
Port St. Lucie, Fla. recorded the sharpest owner-renter divergence, with owner mobility down 1.25 percentage points and renter mobility up 8.61 percentage points, the largest renter increase in the dataset. Newark, N.J. saw the steepest drop in owner mobility of -2.97 percentage points, while Greensboro, N.C. recorded the largest increase in owner mobility at 2.91 percentage points. Chandler, Ariz., posted the steepest renter mobility decline of -7.46 percentage points.

6. Why are homeowners moving less while renters are moving more?
Higher mortgage rates, rising home prices and limited inventory have made it harder for owners to sell and buy again, keeping many of them locked in place. Renters, meanwhile, have remained more flexible, with in-migration, shifting affordability and new rental supply helping drive more movement in many cities.

---

Fair Use & Redistribution

We encourage and freely grant permission to reuse and repost the information, analysis, charts, tables and images included on this page. When doing so, we only ask that you link back to this page or PropertyShark.com as the official source.

About PropertyShark

PropertyShark is an online real estate database and property research tool that provides building details, ownership information, comparable sales and foreclosure data. Founded in 2003, PropertyShark serves real estate professionals and consumers in New York and other major U.S. markets.