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2022 U-Haul Report Reveals Texas and Florida as Great Multifamily Investing Opportunities

U-Haul ® is the largest rental truck company in the United States. The U-Haul Migration Trend Report: 2022 Edition is based on data collected by U-Haul International’s nearly 450 franchise dealerships and reflects more than 94 million moves handled by U-Haul during the past year.

This Is Great News! 

Key Findings From the Report Include:

Texas was the No. 1 destination for one-way truck rentals from another state in 2022 — followed closely by Florida, California, and New York. Texas took top honors for moving into the state with Louisiana (No. 2), Indiana (No. 3), and Oklahoma (No. 4).

Florida was also a popular destination for incoming one-way truck renters from other states, including Georgia (No. 5), South Carolina (No. 6), North Carolina (No. 7), and Alabama (No. 8).

The U-Haul report shows that Texas and Florida have been consistently popular destinations for one-way moves due in part to their strong economies and growing populations. Other states that have significantly increased one-way truck rentals include Arizona, North Carolina, and Tennessee.

Related: Austin Housing Market Predictions 2022-23

The report also noted that many of the states that have experienced the most growth in one-way truck rentals are located in the South and Southwest regions of the United States. This suggests that many Americans are moving to these areas in search of better job opportunities, lower costs of living and more desirable climates.

The Top 8 Growth States For 2022 Are:

  • Texas – 1,065,055 trucks
  • Michigan – 918,188 trucks
  • Georgia – 875,717 trucks
  • Florida – 796,324 trucks
  • California – 749,942 trucks
  • New Jersey – 672,619 trucks
  • North Carolina – 651,843 trucks
  • Illinois – 536,043 trucks

Bottom Line

Overall, the U-Haul report provides valuable insights into the current state of migration in the United States. For example, it shows that Texas and Florida remain popular destinations for one-way moves, while several other states in the South and Southwest are also experiencing significant growth in this area. Higher populations and in-demand markets helps position more apartment demand and solid multifamily occupancy rates.

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