Between 2010 and 2018 Virginia’s population grew by more than half a million residents, ranking 9th in the nation, due to strong natural increase (births over deaths) and steady international immigration. But the Old Dominion was only one of two states in the top 10 — the other was California — to experience negative net domestic migration, reports Lisa Sturtevant, chief economist for the Virginia Realtor’s Association in the Realtors’ blog.
Nearby southeastern states have shown strong domestic in-migration. What’s Virginia’s problem?
According to Sturtevant, the state’s biggest challenge is recruiting and retaining young workers. In continuation of a decade-long trend, about 6,00 more 25- to 34-year-olds moved out of Virginia in 2018 than moved in 2017 and 2018. These young people aren’t fleeing economically deprived rural areas. They’re leaving the high-cost areas, particularly Northern Virginia.
Says Sturtevant: “Even though professional opportunities are attractive and wages are high, home prices have gotten so high that it is increasingly challenging for young adults to buy homes. Many have been moving to places where jobs are still good but the cost of living is lower and it is easier to buy a home.”