Despite Seeking Out Affordable Locations and Lifestyles in the Pandemic, 34% of Americans Report a Higher Cost-of-Living Post-Move

New research from Gravy Analytics looks at the changing habits of consumers after moving, with rising costs impacting their daily lives

DULLES, Va., Aug. 24, 2022 /PRNewswire/ -- Against a backdrop of record-high inflation rates, cost-of-living has impacted over a quarter (34%) of Americans who moved during the pandemic to more affordable areas with greater open space. That's according to new data released today by Gravy Analytics, a leading provider of enterprise location intelligence.  

Among the 1,500 U.S. consumers surveyed on their post-move habits, 34% reported that a higher cost-of-living was their biggest daily challenge. This is despite 18% of respondents citing the need for more affordable housing as the main driver for their move, trailing only the need for more space (33%) and the desire to be closer to family (22%).

Location intelligence insights from Gravy Analytics further demonstrate the desire for a more affordable cost-of-living as a driving force of pandemic moves, as the counties that gained the most population between Q1 2020 and Q1 2022 had a 33% lower weighted average median home value compared to the counties that lost the most population. Median household income is only 6% lower in top gaining counties than in top losing counties, suggesting that those people who moved were able to keep a similar household income, such as maintaining their roles in a remote/hybrid capacity, while also being able to spend significantly less on housing.

Shopping habits similarly reflect a preference for affordability, as the desire for low prices were cited as the biggest factor by 32% of Americans when selecting a grocery store in their new location. Low prices ranked higher than a convenient location to home or work (13%) and offering a good customer experience (12%).

"As the post-pandemic consumer landscape continues to evolve and inflation impacts every factor of American life, organizations must be armed with data to know how to respond and plan," said Jeff White, founder and CEO of Gravy Analytics. "By using location intelligence to observe behaviors such as where consumers are moving to and how their purchasing habits have evolved, city planners, retailers and logistics professionals alike can identify key trends early on and use the data to guide their strategies."

Additional survey findings also revealed:

• Shopping habits shifted significantly, with mom-and-pop shops being the biggest benefactors. Almost two-thirds (61%) of consumers changed their shopping habits after moving, with 34% now primarily shopping at mom-and-pop stores instead of national retail chains. Comparatively, 27% now primarily shop at national retail chains rather than mom-and-pop shops. Location intelligence from Gravy Analytics observed a similar trend, as non-chain stores retained more foot traffic than national retailers from Q3 2020 through Q2 2022.
• Americans didn't move far, with many staying in the same region. The Southeast experienced the highest increase in population gains, as 27% of Americans surveyed moved to this region, but the majority of new residents (52%) had previously lived elsewhere in the Southeast. Each region saw similar trends, with almost half of new residents coming from somewhere within that same region.
• Environmental risks drive movement decisions. The impact of climate change is influencing where consumers of all generations choose to live, as more than two-thirds (70%) reported environmental risks as a deciding factor.
• Regional political affiliation plays a role in choosing a place to live. Only a slight majority (53%) of Americans consider the political affiliation of a region when deciding on a place to live. Location intelligence data from Gravy Analytics observed similar trends, as many people moved away from the West Coast and Northeast to politically-opposite deep Southeast, Midwest and Southwest regions. As of Q1 2022, however, more people have left places like Texas, Florida, and Illinois and moved or returned to West Coast states like California and Washington.

For more information on how location intelligence can be utilized to better predict consumer behavior, please visit www.gravyanalytics.com.

Gravy Analytics surveyed 1,500 consumers above the age of 18 in the United States using the online insights platform Pollfish. This survey was completed in the summer of 2022.

Where people go and why tells the story of our world. Founded in 2011, Gravy Analytics is the enterprise location technology company providing actionable intelligence to businesses. Using its patented technology, the company brings data about people, places, and events together to understand human mobility, helping companies enhance their sales and marketing strategies and optimize business operations. Today, the company's intelligence powers leading-edge solutions for a wide range of industries—from advertising to market research, financial services to supply chain risk management—that rely on knowing how people, products, and materials move throughout the world. For more information, please visit gravyanalytics.com.

Contact: SHIFT Communications for Gravy Analytics, [email protected]

SOURCE Gravy Analytics

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