Source: The Ascent —
I’m moving. The dates are squishy, but it’s decided. By the first half of 2023, my friend and I are high-tailing it from Los Angeles, California, to the Portland, Oregon, region. As much as we love our beaches cooked sunny-side up, it’s too expensive to stay here.
Recent data from Redfin shows that one in four Americans are looking to move — my friend and I are in good company. As mortgage rates pop and inflation sizzles on the back burner of just about everything, folks prioritize affordable housing over familiar neighborhoods.
More exploration, less price gouging. Most folks can get behind that. Especially folks stuck in big cities with higher-than-average housing costs. It’s time for something new.
According to Redfin, these are the cities Americans are leaving the most:
- San Francisco, California: The top move-out city in America, nearly 40,000 more San Franciscans want to move out than move in. Monthly mortgage payments can’t be cheap — the median cost of a home in San Francisco is $1.4 million. Time to pack those bags.
- Los Angeles, California: Home, sweet home. Also, not as pristine as it appears in Hollywood films. The city has some of the highest rent prices in the country. The median rent price is $3,093 per month, as per Zillow. Worse, rents cost $443 more last year.
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