Looks like Californians are figuring out what the rest of us already knew: that living in California isn’t worth the price tag. (Oh sorry, is our Southern showing?)
California has long topped the chart of “Sure It’s Beautiful But It’s Also the Most Expensive Place to Live in the Entire United States of America.”
In the biggest California cities — San Francisco, San Jose, Los Angeles and San Diego — the living spaces in March 2017 averaged at $720,000, compared to the same types of spaces that go for closer to $250,000 nationally, according to a recent report from Trulia. And those prices aren’t going down. California’s home prices are on the upswing, just like everywhere else in the U.S.
The result is a mass exodus from the Golden State, and guess who’s getting plenty of California Love?
Yep. You got it.
The results show that 5.5 percent of Californians who leave their home state move to Dallas, where the median listing price is less than half what it is in Cali. The top five destinations for Californians calling it quits are Las Vegas, New York City, Phoenix, Dallas and Seattle.
While some Californians choose other “large metros like New York, Atlanta and Chicago,” they tend to pick less expensive yet still sunny markets like Las Vegas and Phoenix, the Trulia report explains. Many Californians also “gravitated to the high job-growth centers of Seattle, Denver, Dallas and Portland, Ore.”
Of course some people are moving to California, but in every major city except San Diego the rate of people seeking to leave California was higher than the rate of people seeking to move in.
However, that rate was fairly steady over time, which led Trulia to conclude that “while this could mean people are looking to leave, a steady number of people are still looking in and keeping that ratio fairly constant,” the report states.
“With the net number of inbound to outbound searches remaining relatively steady, high cost living in California is likely not going anywhere soon.”
If you’re interested in learning more about this report, you can find it here.