Population growth and decline have been major topics in the social science field, such as urban and regional planning and housing policy. The purpose of this study was to determine the direction and magnitude of population movement and the factors that would have a deciding role in population movement between regions. According to the existing population theories, the push-and-pull factor between regions and the threshold model can be used for estimating population movement. In this study, the net financial benefit model was adopted to find out the determinants between Gangwon Province and other areas. The results of the empirical study are as follows. First, most of the variables were effective in household migration, especially population density, income level, housing cost, and medical institutions. Second, contrary to the expectations, urban density was not a meaningful factor in selecting migration areas for the old generations. The empirical results showed that Gangwon Province needs to set up a more business-friendly environment, and to control the housing cost.