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  • Ellen Eastwood

    Here are the 10 cities housing prices will increase most as record numbers consider leaving NYC, LA, Chicago

    2023-03-02
    User-posted content

    According to a Redfin report, a record number of Americans are considering leaving their current city. In fact, of the people coming to the site, an astonishing one in four (25%) are searching for real estate in a new zip code.

    There are two key reasons for this. The popularization of remote work during the pandemic means that many knowledge workers and creators are able to work from anywhere they can get an Internet connection. This gives people an opportunity they've never had in the past - to move away from their employer. Many are now choosing locations based on their desired lifestyle.

    Affordability is also a key factor. Most of the people considering a move are looking at places where the housing market and cost of living are more affordable than their current location. This is of course relative to the housing market in your current location.

    Redfin identified the top 10 cities people are looking to move to across the country, and the people most likely to move there.

    What cities are most likely to heat up?

    Miami - the Miami real estate market is already hot, but the Manhattanites considering moving there have the capital to handle it. Miami is the number one hottest market on the site.

    Sacramento - this one may be a surprise but San Francisco and Chicago residents looking for a warm place with a (non-ocean) beach are considering it in droves.

    Las Vegas - Los Angelenos tired of trying to drive in a super-sized city are considering moving to Sin City in droves. Las Vegas offers a warm climate with lower housing costs.

    Phoenix - Seattleites sick of the endless rain are considering a move down to the sunbelt.

    Tampa - New Yorkers who don't want the hustle and bustle of Miami are considering the relatively quiet Tampa with its beautiful bay views.

    Dallas - Los Angelenos are considering this safe and affluent destination for their next home.

    Cape Coral, FL - this mid-size Florida city is attracting Chicagoans with its sunshine and incredible biodiversity.

    Orlando - once again, it's New Yorkers who have a love affair with the sunshine state and access to theme parks galore.

    North Port, FL - this quiet suburban town is attracting Chicagoans with its copious golfing, mineral springs, and freshwater canals.

    Houston - New Yorkers are most likely to be considering saying howdy to Houston.

    In the next 10 years, the American landscape is likely to change as its biggest cities get somewhat smaller and mid-sized and smaller cities expand. Big city dwellers are looking for a change in lifestyle and a more affordable place to call home.

    Meanwhile, residents of these cities can expect real estate prices to increase exponentially over the next few years, which could be good or bad news depending on whether you're buying or selling.

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