News Summary
In a recent report by U-Haul, South Carolina has been recognized as the top growth state for 2024, moving up three spots from last year. This ranking highlights the state’s affordability, strong job market, and favorable climate, which make it attractive to new residents. Key urban areas like Charleston and Greenville are seeing significant increases in population, with substantial net gains of movers recorded. The demographic landscape is shifting, with a notable decrease in the percentage of residents born in the state and an expected rise in older residents in the coming years.
South Carolina has been named the top growth state for 2024 in a report by U-Haul, which analyzed one-way customer transaction data. This is a significant milestone for South Carolina, as it is the first time the state has achieved this ranking, moving up three positions from the previous year. Previously, Texas held the title of top growth state from 2021 to 2023.
One of the key factors contributing to South Carolina’s success is its cost of living, which is 7% lower than the national average. This affordability makes the state an attractive option for new residents. The climate also plays a role, as South Carolina’s mild weather allows for year-round outdoor activities such as golfing, hiking, and beach relaxation.
U-Haul’s report indicated that the number of arrivals into South Carolina has remained steady, while the number of departures decreased by 2%. This has led the state to have the largest net gain of U-Haul movers in the country. In fact, 51.7% of one-way traffic involving U-Haul in and out of South Carolina last year consisted of customers moving into the state.
The growth of South Carolina can also be attributed to its flourishing business environment. Major corporations such as Boeing, BMW, and Volvo have established a significant presence in the state’s manufacturing sector, providing jobs and boosting the economy. Additionally, both the tech and healthcare sectors in South Carolina have expanded rapidly, leading to a 7% increase in employment over the past five years.
The areas experiencing notable growth include Charleston, often referred to as “Silicon Harbor” for its appeal to tech startups, and Greenville, which focuses on advanced manufacturing. South Carolina’s growth is remarkable given that it is the 10th smallest state in the U.S. The 2024 World Population Report noted that South Carolina had a growth rate of 1.06%, with a move-in-to-move-out ratio of 2.05. The state saw a net increase of 101,296 households moving in, compared to 68,369 moving out, contributing to a 1.65% population increase.
The top three states from which people are relocating to South Carolina include New York, North Carolina, and New Jersey. South Carolina’s largest cities—Columbia, Charleston, and North Charleston—each have populations exceeding 100,000. The urban areas surrounding these cities host even larger populations, with Charleston County having over 400,000 residents, Greenville County at 525,534, and Richland County 416,147.
Collectively, Greenville, Spartanburg, and Anderson counties account for a populous region stretching over 1 million residents. Among the top ten most populated locations in the state, Beaufort County has seen a 7% growth increase since 2020. Popular moving destinations such as Hilton Head and Bluffton also boast a combined population of 75,811.
However, population growth is not uniformly distributed across all counties; it remains concentrated in less than half of them. Additionally, a demographic shift is taking place in South Carolina. The percentage of residents born in the state has decreased from 80% in 1970 to 52% in 2023. Furthermore, the average age of residents stands at 38.8 years old, with projections indicating that in the next decade, there will be more residents over 64 than under 18.
These dynamics illustrate the considerable changes occurring within South Carolina as it continues to attract new residents and foster economic growth, all while establishing itself as a prime destination for individuals and families seeking to relocate.
Deeper Dive: News & Info About This Topic
- U-Haul Growth States of 2024: South Carolina Tops List
- Wikipedia: South Carolina
- South Carolina Unseats Texas as Top Migration Growth State
- Google Search: South Carolina migration growth
- Job Growth and Economic Trends in South Carolina
- Google Scholar: South Carolina economic growth
- Local News on South Carolina’s Economic Development
- Encyclopedia Britannica: South Carolina
- Growth in South Carolina’s Housing Units
- Google News: South Carolina housing growth
