U-Haul Growth Metros and Cities of 2024: Dallas is Top Metro for In-Migration

Rhea-AI Summary

U-Haul has released its 2024 Growth Index based on over 2.5 million one-way equipment transactions, revealing the Dallas-Fort Worth-Arlington metropolitan area as the leading growth metro of 2024. Charlotte and Phoenix secured second and third positions respectively, while Ocala, Florida topped the city-proper rankings for the second time in three years.

Florida dominated the rankings with seven of the top 25 growth metros, including Lakeland, Palm Bay, Jacksonville, Tampa, Sarasota, Fort Myers, and Daytona Beach. Texas followed with five metros in the rankings. The growth patterns are attributed to factors such as reasonable cost of living, strong job markets, and tax benefits.

The U-Haul Growth Index, while not directly correlating to population or economic growth, serves as an effective indicator of how well states, metros, and cities attract and retain residents through its network of 23,000-plus rental locations across the U.S. and Canada.

Positive

• Strong market presence with over 2.5 million annual transactions
• Extensive network coverage across 23,000+ rental locations
• Implementation of sustainable business practices through shared-use model

Negative

• None.

Insights

Market Research Analyst

This migration data reveals critical market dynamics impacting UHAL's business performance and real estate trends. The Dallas-Fort Worth Metroplex leading U-Haul's growth metrics, followed by Charlotte and Phoenix, signals robust demand in these markets. The data, derived from over 2.5 million one-way transactions, provides a reliable indicator of population movement patterns.

Florida's dominance with 7 of the top 25 growth metros and Texas with 5 metros suggests continued strong equipment utilization rates in these regions. The concentration of movement into the Southeast and Southwest regions indicates potential revenue growth opportunities for UHAL in these markets. Notably, the presence of multiple mid-sized cities in the growth list suggests a shift from traditional large urban centers, potentially driven by remote work trends and cost-of-living considerations.

The migration patterns align with broader economic indicators, particularly in markets like Dallas where job growth and favorable tax policies are driving inbound moves. This trend could translate to sustained demand for UHAL's services and potentially higher pricing power in high-growth corridors.

Financial Analyst

The migration trends detailed in this report have direct implications for UHAL's financial performance and market positioning. Strong one-way equipment flows into growth markets typically generate higher revenue per transaction due to premium pricing on popular routes. The broad geographic distribution of growth cities, particularly in the Southeast and Southwest, suggests healthy fleet utilization rates and potential for improved margins.

The company's extensive network of 23,000+ rental locations provides a competitive advantage in capturing these migration flows. The shared-use business model and sustainability initiatives like U-Box Load Share could drive operational efficiencies and appeal to environmentally conscious consumers, potentially expanding market share.

UHAL's position as the primary data source for national migration trends enhances its brand value and market intelligence capabilities. This data advantage could be leveraged for strategic fleet positioning and pricing optimization in high-growth corridors, potentially leading to improved return on assets.

Charlotte and Phoenix are also leading metros, while Ocala (Fla.) is the No. 1 growth city for the second time in three years

PHOENIX--(BUSINESS WIRE)-- The Dallas-Fort Worth-Arlington metropolitan area, better known as the DFW Metroplex, is the leading U-Haul Growth Metro of 2024.

U-Haul named its top U.S. growth metros and cities of 2024 based on one-way customer moves last year. Dallas ranks first among all metro areas, while Ocala (Fla.) is the leading city proper. (Photo: Business Wire)

Charlotte, Phoenix, Lakeland and Austin complete the top five U.S. growth metros, meaning they saw the largest net gains of U-Haul^® customers taking one-way equipment into and out of metro areas last year.

This marks the first year that metros have been part of the do-it-yourself moving company’s annual growth reports and rankings. The U-Haul Growth Index is compiled from well over 2.5 million one-way truck, trailer and U-Box^® portable moving container transactions that occur annually in the U.S. and Canada.

“We are seeing unprecedented growth in the Dallas metro area, both within the city and also suburbs like McKinney, Plano and Addison,” said Sean Fullerton, U-Haul Company of South Central Dallas president. “The cost of living is also extremely reasonable throughout the whole metro. Job growth has led to wages and earnings going up, and tax breaks have led to a lot of people moving to the area.”

Press release: U-Haul Ranks Top 50 Growth States of 2024

Florida boasts seven of the top 25 growth metros, with Lakeland joined by Palm Bay, Jacksonville, Tampa, Sarasota, Fort Myers and Daytona Beach.

Texas had five metros make the cut. North Carolina had three, all in the top 14.

2024 Top 25 U-Haul Growth Metros

1.	Dallas, TX
2.	Charlotte, NC
3.	Phoenix, AZ
4.	Lakeland, FL
5.	Austin, TX
6.	Nashville, TN
7.	Raleigh, NC
8.	Palm Bay, FL
9.	Houston, TX
10.	Greenville, SC
11.	Jacksonville, FL
12.	Tampa, FL
13.	Charleston, SC
14.	Wilmington, NC
15.	Sarasota, FL
16.	Fort Myers, FL
17.	Boise, ID
18.	Richmond, VA
19.	Bend, OR
20.	Indianapolis, IN
21.	Brownsville & McAllen, TX*
22.	Tyler, TX
23.	Daytona Beach, FL
24.	Spokane, WA
25.	Springdale, AR
* The metro areas of McAllen and Brownsville are combined for U-Haul analytic purposes.

Ocala Tops Growth Cities List

U-Haul also announced its top 25 U.S. growth cities to recognize city propers (outside the leading growth metros) that are netting the most one-way U-Haul customers.

Ocala tops that list for the second time after ranking first in 2022 and second in 2023. It is the fifth consecutive year a Florida destination has headlined the U-Haul growth city rankings.

“There are two main reasons people are moving to Ocala,” said Brady Rome, U-Haul Company of Gainesville president. “The primary reason is cost of living, simply being that it’s lower than almost anywhere in the state. It allows housing to be a more affordable option for families packing up their U-Haul and moving to central Florida. The second reason is the job market, which remains strong with the addition of so many manufacturing jobs. The healthcare industry has also seen massive growth in the past year and is a driving force of employment. And you can’t go without mentioning Ocala is the ‘Horse Capital of the World.’ The equestrian center is huge and continues to bring people here.”

The Sunshine State has five of the top 25 growth cities. Tennessee, Washington and Alabama each have three. Virginia boasts two of the top four cities, Fredericksburg and Lorton, both located within 50 miles of Washington, D.C.

2024 Top 25 U-Haul Growth Cities (city propers outside the top metros)

1.	Ocala, FL
2.	Fredericksburg, VA
3.	Kissimmee, FL
4.	Lorton, VA
5.	Myrtle Beach, SC
6.	College Station, TX
7.	Knoxville, TN
8.	Tukwila, WA
9.	Johnson City, TN
10.	Foley, AL
11.	Spartanburg, SC
12.	Auburn, AL
13.	Cookeville, TN
14.	Huntsville, AL
15.	Clermont, FL
16.	Iowa City, IA
17.	Tacoma, WA
18.	Port St. Lucie, FL
19.	Vancouver, WA
20.	Missoula, MT
21.	Panama City, FL
22.	Madison, WI
23.	Corvallis, OR
24.	Concord, NH
25.	Kingman, AZ

While U-Haul rankings may not correlate directly to population or economic growth, the U-Haul Growth Index is an effective gauge of how well states, metros and cities are attracting and maintaining residents.

U-Haul is the authority on migration trends thanks to its expansive network that blankets all 50 states and 10 Canadian provinces. The geographical coverage from 23,000-plus U-Haul rental locations provides a broad overview of where people are moving like no one else in the industry.

U-Haul continues to benefit the environment through its shared-use business model. Truck and trailer sharing empowers communities to share moving equipment so that families and individuals don’t need to own large-capacity vehicles to transfer belongings. Sustainability initiatives like U-Haul Adaptive Reuse (the preserving and repurposing of existing buildings for new stores), truck modifications to improve fuel economy, and plastic Ready-To-Go Boxes^® that are shared hundreds of times before being recycled are among the ways U-Haul promotes green business. U-Box Load Share, the Company’s latest sustainability program, continues to earn awards for providing ecofriendly solutions to today’s gig economy.

About U-HAUL

Founded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers with more than 23,000 rental locations across all 50 states and 10 Canadian provinces. The U-Haul app makes it easy for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and -return options on their smartphones with our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 192,000 trucks, 138,700 trailers and 39,500 towing devices. U-Haul is the third largest self-storage operator in North America with 1,024,000 rentable units and 88.5 million square feet of self-storage space at Company-owned and -managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250103488166/en/

Jeff Lockridge

Sebastien Reyes

E-mail: publicrelations@uhaul.com

Phone: 602-760-4941

Website: uhaul.com

Source: U-Haul Holding Company

FAQ

Which metro area ranked as U-Haul's top growth destination for 2024?

The Dallas-Fort Worth-Arlington metropolitan area (DFW Metroplex) ranked as U-Haul's top growth metro for 2024, based on one-way customer moves.

How many Florida metros made U-Haul's top 25 growth list for 2024?

Florida had seven metros in the top 25 growth list, including Lakeland, Palm Bay, Jacksonville, Tampa, Sarasota, Fort Myers, and Daytona Beach.

What factors contributed to Dallas becoming UHAL's top growth metro?

Dallas's growth is attributed to reasonable cost of living, strong job growth leading to increased wages, and tax breaks attracting new residents.

Why did Ocala, Florida rank as UHAL's top growth city for 2024?

Ocala ranked first due to its lower cost of living compared to other Florida locations, strong job market in manufacturing and healthcare, and its status as the 'Horse Capital of the World.'

How does U-Haul (UHAL) compile its Growth Index?

The U-Haul Growth Index is compiled from over 2.5 million one-way truck, trailer, and U-Box portable moving container transactions occurring annually in the U.S. and Canada.