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Demographer: Younger adults driving out‑migration from high‑cost metros as statewide housing demand rises
Summary
Hamilton Lombard of UVA's Weldon Cooper Center told the Virginia Housing Commission that since the pandemic younger adults have been moving out of high‑cost metro areas to smaller localities, pushing housing demand statewide and creating competition for single‑family homes.
Hamilton Lombard, a demographer at the University of Virginia's Weldon Cooper Center, told the Virginia Housing Commission that younger adults are the primary driver of migration from higher‑cost metro areas into smaller cities and rural counties across Virginia.
Lombard said the pattern, which first intensified during the pandemic, has continued into 2024 despite higher mortgage interest rates. "The significant trend we've seen over this past year really is a continuation of what we've seen since the pandemic, which has been more households, particularly younger households, moving out of higher cost metro areas to lower ones," he said.
Lombard told commissioners the return of strong immigration and a net…
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