SACRAMENTO, Calif. — Sacramento is the top destination for people looking to move out of larger cities, according to a new Redfin analysis.
The analysis published in late October broke down housing migration trends for its third quarter. The real estate brokerage measured the number of users who were “looking to relocate from one metro area to another.” It discovered 24.2% of nationwide potential homebuyers are searching for houses outside their current residence.
Rising costs of living and inflated housing prices have resulted in people leaving big metropolitan cities for “sunny, relatively affordable” areas. Popularity was determined by “the number of people looking to move into a metro minus the number of people looking to leave.”
Most of the city’s in-state inflow is coming from San Francisco. Out-of-staters are coming from Chicago. Which, according to a migration analysis by CBRE, a commercial real estate company, stated that it was partially prompted by the COVID-19 pandemic.
While the median cost for a Sacramento home is around $560,000 and above the national average, Redfin reported, is still more economical than houses in San Francisco and Los Angeles.
The cities with the largest number of people looking to leave are San Francisco, Los Angeles and New York, according to the report.
Top destinations
The complete list, according to Redfin, of the top 10 cities with the highest inflow of property searches are listed below:
1. Sacramento, California
2. Miami, Florida
3. Las Vegas, Nevada
4. San Diego, California
5. Tampa, Florida
6. Phoenix, Arizona
7. Cape Coral, Florida
8. North Port-Sarasota, Florida
9. Dallas, Texas
10. Portland, Maine
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