People Are Moving Less Than Ever—and It’s Costing Them Career and Lifestyle Upgrades

When Rebecca Obeng began hunting for a new job after finishing medical training in Chicago , she didn't expect to end up in Cleveland .

Obeng, who's originally from Ghana, went to medical school in Virginia and then a residency in Georgia. But the Midwest struck her as a place to stay. The University Hospitals pathologist ended up buying a home in Mayfield, OH , after finding many more affordable options than the Windy City held.

"The job was the type of structure I was looking for, but beyond that, I really liked Cleveland when I visited. I was quite surprised," Obeng tells Realtor.com® . "It's just very green. Not too overwhelming. And feels like it has this rich history and tradition."

"And my rent in Chicago was pretty much what I'm paying for my mortgage now," Obeng continues. "It ended up being a much better value in terms of housing."

Moving for work is ubiquitous in America, and so is trading the big city for a more affordable life elsewhere. But a recent analysis by Bank of America found that Americans, especially millennials, are shunning moves of all kinds with increasing frequency. And that has implications for an already challenged housing market.

According to recent U.S. Census Bureau data, the nation's residential mobility rate has fallen to a historic low of roughly 11%, down from the 20% annual mover rate recorded during the mid-20th century. This represents the lowest level of geographic movement recorded since federal tracking began in 1948.

Bank of America's data found a broad-based slowdown in moving. That includes both long-distance moves and moves within cities. Millennials in particular see the sharpest pullbacks. But aside from Gen Z, all age groups are increasingly staying put, the data found.

Relocations typically show a rise in the spring and a trough late in the year, matching the seasonal housing market cycle. But the historical shape of the data has been replaced by a sharp drop that has mostly persisted since late 2025, Bank of America found.

"Americans are moving less, and the slowdown is broad-based," wrote Joe Wadford , an economist at the Bank of America Institute. But lower-income households and millennials are seeing the sharpest pullbacks.

"When people do change locales, they still favor smaller cities, especially those in the Midwest," Wadford said.

Meanwhile, those who would typically move to new homes in the same city seem to be favoring renovating their properties instead of moving, Bank of America said.