Guess Which Major US City Most Residents Want To Leave ASAP?


Start generating passive income through real estate

Check out these featured investments from Benzinga's Real Estate Offerings Screener.


Start generating passive income through real estate.

Own a piece of your favorite cities through diversified real estate investments in the country's top markets

*Terms and conditions apply. Visit Nada's website for more details.

Nearly 25% of potential homebuyers nationwide are looking to move to an entirely different metro area than they’re in now, ditching pricey areas for more affordable markets, according to data issued by Redfin.

What happened: With mortgage rates at 20-year highs, coupled with elevated home prices, would-be buyers are swapping cities to help lower living costs, the study says.
Also read: Any Sign Of Relief In The Housing Markets? No, It Is Still Bad

The following ten cities had the biggest net inflow of property searches on Redfin's website out of the 100 metro regions studied during the third quarter. The difference between the number of persons wishing to relocate into a metro area and the number of people looking to leave is known as the net inflow.

10. Portland, Maine: 3,300
9. Dallas, Texas: 4,100
8. North Port-Sarasota, Florida: 5,200
7. Cape Coral, Florida: 5,200
6. Phoenix, Arizona: 5,200
5. Tampa, Florida: 6,700
4. San Diego, Califonia: 6,800
3. Las Vegas, Nevada: 7,000
2. Miami, Florida: 8,000
1. Sacramento, California: 8,700

Why it matters: Warmer destinations dominate the rankings — particularly Florida, which has a low tax burden with no state income tax.

As an aside, if you’re an investor looking to get a slice of the $15 billion rental property market, check out how you can invest as little as $100 in rental properties and be paid out on a quarterly basis.

So what cities are people leaving?

According to Redin’s search data, the highest number of searches for properties in the above cities are from people in urban areas that have a relatively high cost of living, like New York City, Chicago and Los Angeles.
To read about the latest developments in the industry, check out Benzinga's real estate home page.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Real EstateAlternative investmentsHousing Marketreal estate investing
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!