DISTANCE SURVEY

Is there really a Great Migration happening?

A new survey from OJO Labs finds more than 75% of would-be buyers are looking to buy close to their current home

By Patrick Kearns | Mar 31, 2022

With remote and hybrid work at an all-time high, it’s never been easier to relocate. But despite prevailing narratives that everyone is following their wanderlust and getting ready to pack up and move across the country in search of a greener pasture, a new survey from OJO Labs finds that most people are actually trying to buy a house close to their current address. 

OJO Labs surveyed 514 consumers who filled out forms requesting more information on homes over the past month and found that the majority of those prospective buyers are looking to buy less than 50 miles from their current home. Of the consumers surveyed, 41% said they were looking for a home between 6 and 50 miles from their current residence, while 36% said they were looking for a home less than 5 miles from their current residence. 

“Talking about The Great Migration masks the reality of homeownership and homeownership issues in America,” OJO Labs CEO and Founder John Berkowitz said. “The reality is that people are moving in the same way they always have been, and the talk of the Great Migration shows the separation of reality in how we focus more on the rich, and the middle and lower classes are often forgotten.”

Of the remaining consumers, 9% said they were looking to move 51 to 200 miles from their current address; 4% were looking to move 201 to 500 miles from their current residence, and 11% said they were looking to move more than 500 miles from their current home.

According to the survey, people are looking to stay in the same community they already live in 66% of consumers currently living in a rural area are looking to move to buy a home in a rural area, 76% of consumers living in a suburban area are looking to stay in the suburbs, and 63% of consumers living in an urban community want to live in an urban community. 

OJO Labs also surveyed consumers to gain further insight into the impetus behind their home purchases. The largest percentage of respondents, at 39%, said they were moving for a better lifestyle fit — i.e., they wanted more space, wanted to downsize, or wanted to be closer to friends/family. 

The second-largest cohort, 36% of respondents, moved due to life events or life stage changes — things like getting married, a growing family, changing jobs, or moving cities. Only 14% said they were buying a house for financial investment, and 11% said they were buying a home because of favorable market conditions.

Patrick Kearns is the Director of Storytelling at OJO Labs. Prior to joining OJO Labs, Patrick worked as a journalist for more than a decade, most recently covering housing and real estate at Inman News. He’s also written for The Guardian, The Washington Post, Sports Illustrated, Vice, and others.

OJO is a real estate platform that provides support and guidance to match each moment of the home journey, so everyone feels ready, equipped, and inspired to take the next step. Learn more.

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