Remote Work Trends and Relocation Data 2024
By Christie Hurst • Feb 5, 2024
MakeMyMove Background: MakeMyMove is the country’s first and only online marketplace where remote workers can explore the communities that are incentivizing their relocations. Since launching in December 2020, we have helped more than 1,000 remote workers and their families find and relocate to new communities. MakeMyMove is founded and operated by former Angie’s List executives Bill Oesterle (Angie’s List co-founder), Mike Rutz (MakeMyMove CEO) and Evan Hock (MakeMyMove COO).
Since 2019, MakeMyMove estimates that:
Nearly 5,000 households have relocated through remote worker relocation incentive programs in the U.S.
Around $50M worth of incentives have been distributed to remote workers
More than $500M in annual HH income has been relocated to communities with remote worker incentive programs
In addition to incentive cash, because movers are relocating to communities with around 20% lower cost of living, movers will feel an average of an extra $22k in their pockets each year.
Updated October 2023. Estimates are based on MakeMyMove client data as well as publicly available data about remote worker incentive programs across the U.S.
Program Expansion:
MakeMyMove launched in December 2020 with 25 incentive programs. As of October 2023, there are more than 60 communities offering relocation incentives to remote workers at MakeMyMove.com, while many more have expressed interest.
There are remote worker incentive programs in at least a dozen states across the U.S., including Alabama, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Missouri, New Mexico, Ohio, Oklahoma and West Virginia. And more programs internationally.
Steadily declining population growth in the U.S. is putting pressure on local economic development organizations to attract talent.
States and local authorities awarded $27.5 Billion in economic incentives (to corporations) in 2022 (Site Selection Group U.S. Economic Incentives Market Report 2023) but “talent-first economic development” is new, and communities have to adjust their funding infrastructure to stand up incentive programs that award talent directly.
Program ROI suggests it’s worth the effort.
Tulsa Remote reports for every dollar invested in their program, nearly $14 comes back to the city in new local earnings. (Economic Innovation Group, November 2021)
Brad Smith, CEO and Executive Chairman of Intuit and $25M benefactor of the Ascend West Virginia program, is preparing to build upon the success of the state’s remote worker recruitment program. (The State Journal, July 2023)
Remote Worker Interest:
Today, about 1 in 10 workers are fully remote. Among the college-educated, 1 in 5 are fully remote. (Economic Innovation Group, October 2023)
Demand for relocation incentives is high. More than 50,000 applications have been submitted at MakeMyMove.com in 2023 alone (as of October 1), an increase of 2x over 2022.
Remote workers cite cost of living, high speed internet, safety, community connection as top desires for relocation. (MakeMyMove Remote Worker Survey, 2022)
Housing availability and affordability is key for future success. Mortgage rates have increased dramatically over the last three years, from 3% to nearly 8%, shifting movers’ interest from buying to renting, and, we expect, dampening migration rates.
Noah Cline moved to Terre Haute from Mississippi. Upon moving to Terre Haute, he opened a storefront downtown where he teaches flute and piano lessons. Photo credit: NoahCline.com
Indiana Snapshot, October 2023
Investment:
About $5M invested; $2.5M local contributions, $2.5M matched by the Indiana Economic Development Corporation
Results:
340 households moved or moving in the next 90 days
Avg HH Size: 2.2
Avg Age: 38
Avg HH Income: $108k
82% have a bachelor’s degree or higher
$29 Million in annual economic output (consumer spending, taxes, etc)
174 New local jobs created
ROI is estimated 11x after 2 years
Are remote worker movers incremental?
3 of 5 remote worker relocators do not have a prior tie to the community where they moved
Additional contact at MakeMyMove:
Business Development
Ben Ledo
VP Enterprise Sales
Phone: 317-509-4639
Media Inquiries
Christie Hurst
VP Marketing and Communications
Phone: 317-759-8929
About MakeMyMove
Remote work has freed millions of Americans to live where they want, and many are making the move to places that better match their lifestyle. In turn, cities and towns across the country are offering incentives like cash, perks and programming to remote workers who move and work from their communities. At MakeMyMove, you can explore all the places, get personalized help to find the one that’s right for you, connect with locals, and access support to make your move a piece of cake.