The report contends that the lower rungs of the middle class shrank because more Americans got richer, with 31% of families classified as upper middle class in 2024.
"Domestic migration patterns continue to redistribute the population from the largest counties to less populous ones. Collectively, the 50 counties with 1 million or more people in 2025 had a net domestic migration loss of 637,634."
The Census Bureau estimates indicate how the population changed in the 387 US metro areas from July 1, 2024, to July 1, 2025. Most experienced at least some population jump, but at a cooler pace than the same period a year earlier, mainly due to smaller net international migration.
The cost rose a lot following the pandemic. And some of that was supply chain issues that really increased the costs, and then they didn't quite come back down. And now tariffs are also impacting some products. These costs are part of the reason the amount of new rental housing stock is shrinking.
