Report: Influx of Millennials, older professionals fueling Georgia growth

Josh Green

Wed, 02/19/2025 – 10:57

That’s according to a new StorageCafe study tracking U.S. migration patterns from the most recent year with full available data, 2023, when about 7.5 million Americans moved to a different state. (That’s roughly equivalent to all of Arizona moving across state lines.)

According to the analysis, Georgia gained nearly 62,000 more residents than it lost in 2023, placing the Peach State among the top five destination states, following Texas, Florida, and the Carolinas, respectively.

That added to a net inflow of more than 400,000 new residents since 2014—and put Georgia among just a handful of states with 11 million residents or more.

Top U.S. Millennial magnets in 2023. StorageCafe

Net migration per capita in the U.S. in 2023. Georgia ranked 12th in this metric, with 5.6 new residents for every 1,000 people. StorageCafe

In 2023, Georgia saw a surge of more than 20,200 Millennials gained.

That was coupled with nearly 14,000 new Baby Boomers and more than 11,000 Gen Xers, making Georgia the fifth top state in all three categories, according to StorageCafe, an online platform with nationwide storage unit listings.

Meanwhile, Gen Zers are generally leaning more toward the laidback lifestyles and dynamic job markets of Arizona and both Carolinas, per the study.

“A rush of Millennials is heading to Georgia to put down roots, seeking the perfect blend of affordable homes, career opportunities, and family-friendly living,” a StorageCafe rep wrote via email to Urbanize Atlanta.

Other aspects working in Georgia’s favor are a “thriving economy” with “decades of impressive growth” in industries such as logistics, technology, healthcare, and film and entertainment, per the study.

Florida, Texas, and California sent the most new residents to Georgia in 2023, many attracted by lower homeownership costs. (Average home prices in Georgia are 55 percent lower than California, the study found.)

StorageCafe’s 2023 findings.

Some other noteworthy findings for Georgia:

Almost four in 10 new Georgians bought a home within just a year of relocating;
The demographic the Peach State is drawing is described as well-educated, with 33 percent of new residents having earned at least a bachelor’s degree;
Well-heeled transplants from Illinois and New Jersey are bringing “significant economic impact,” with average net worth ranging from $77,000 to $90,000, respectively, per the study.

Overall, the analysis found that seven of the top 10 hotspot states for net migration were in the South.

Data used to determine demographic characteristics of people moving across the country was sourced from the U.S. Census, including the US Census American Community Survey PUMS microdata for 2023, per StorageCafe.

“What we’re witnessing is a fundamental reshaping of America’s demographic landscape,” Emilia Man, the study’s lead analyst, wrote in summation. “Affordability is driving interstate migration, with people gravitating toward regions where active construction meets housing demand.”

States that experience negative net migration in 2023. StorageCafe