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Affordability is a top concern in today’s world which means people are relocating and leaving behind these expensive cities.
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A home in SF costs $1.5 MILLION and today’s mortgage rates average at around 5% making the payment amounts sky-high.
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Affordability has put expensive cities in a very tight spot including LA where residents are moving to San Diego and Phoenix.
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Since more and more people are working from home these days, a big living space has become a priority which New York doesn’t have.
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Most people leaving DC are moving to places like Salisbury, Maryland where housing can be as low as $200K.
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Seattle is also seeing outflow to cities like Phoenix but it must be noted that after an influx Phoenix housing has increased 20% in cost.
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The major destination for ex-Boston residents is Portland Maine. Portland’s median cost for housing is around $489K.
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Detroit residents are seen moving to Cleveland which is a different trend from other cities where people are moving to warmer places.
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Did you plan on moving to any of these cities and have you changed your mind yet?
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