Despite a steady housing market, some cities are seeing residents move away for different opportunities or more affordable options to get ahead financially.
So, which cities are still seeing a decline in homeowners, and where are they moving to instead? Check this list to see how unpopular your city may be as a destination for homeowners.
The data is based on information from Redfin, which measured the net outflow of residents looking to leave an area compared with searchers looking to move in.
If you’re over 50, take advantage of massive discounts and financial resources
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.
Philadelphia
Net outflow: 1,500
Philadelphia might be the city of the Brotherly Shove instead of Brotherly Love, with residents leaving it behind.
Instead, residents are driving about three hours south to Salisbury, Maryland, to find a new home.
The city is in a great central location between the Chesapeake Bay and the Atlantic Ocean, giving Philly homeowners a more relaxed option and potentially a great retirement home.
Seattle
Net outflow: 1,600
Seattle is a great option, especially if you want a tech job with a major company, as the area serves as the headquarters for Microsoft and Amazon. You can also get a job at the headquarters of Starbucks, Costco, or other major companies.
But it comes at a cost, namely in the form of expensive housing. The median sale price for a home in August was $845,000, which may be why residents are leaving for more affordable options like Spokane or warmer options like Phoenix.
Denver
Net outflow: 3,400
Denver’s housing market can be expensive for new buyers or buyers who want to relocate to the area, which could be one reason Denver is seeing an outflow.
The median sale price for a home in Denver was $585,000 in August compared with a national median sale price of $432,961 over the same period.
Denver residents are most likely to move to Chicago, especially if they’re looking for a bargain. In August, the median sale price for a home in the Windy City was $364,000.
Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest. National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1 <p>Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 12 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.</p> How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.Resolve $10,000 or more of your debt
Detroit
Net outflow: 4,200
Detroit saw a decline in home buyers, with more wanting to move elsewhere rather than stay in the Motor City.
The top destination for Detroiters was Washington, D.C., which may be surprising considering the high cost of housing there. The median sale price for a home in Detroit was $95,000 compared with a whopping $630,000 in the nation’s capital.
Chicago
Net outflow: 7,300
Chicago is well known for being the Windy City and that wind may be blowing some residents out.
The city’s median sale price was $364,000 in August, according to Redfin, but that price can vary widely depending on where you live in Chicago.
Instead, residents want to relocate to Cape Coral, Florida, over any other city. One reason may be the weather, which is much nicer in the winter in Florida than in Chicago.
Trending Stories
Boston
Net outflow: 7,800
Boston has switched from ditching tea to ditching residents, with 7,800 more of them considering moving out than moving in.
One big factor may be costs. In August, the median sale price for a home in Boston, for example, was $799,999. The state also has the fourth-highest cost of living index, at 155.9.
On the other hand, Maine's cost of living index is 111.3, which can be inviting to former Boston residents who choose Portland, Maine, over other cities as the one they want to move to.
Washington, D.C.
Net outflow: 18,100
Washington’s housing market could be a deterrent for keeping residents with a median sale price of almost $630,000 for a home in April.
However, it could also motivate them to move and join their friends from Philly in Salisbury, Maryland, which is also the most popular destination for residents who want to move away from the nation’s capital.
New York City
Net outflow: 22,400
As a place to live, New York City has several issues working against it.
The city has the highest cost of living in the country and housing is expensive. The median sale price for a home in Manhattan was almost $1.12 million in August while Brooklyn had a median sale price of $930,000.
Instead, residents are moving out of New York City and heading south to Miami, which may be expensive but not as expensive (or cold) as Manhattan.
Los Angeles
Net outflow: 34,100
Houses are more affordable in Los Angeles than in San Francisco, with a median sale price of just over $1 million in August.
However, Los Angeles topped the list because the number of residents considering moving out of the state has increased. Movement out of the Bay Area has slowed down.
Former Angelinos are also choosing Las Vegas as their next destination.
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2 <p>See website for details.</p> With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year! This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide. Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.Earn cash back on everyday purchases with this rare account
San Francisco
Net outflow: 35,800
San Francisco continues to be an expensive city, with the median sale price of a home at a whopping $1.27 million in April.
That may be a big reason why residents are moving out of the city to places like Sacramento if they want to stay in California or Seattle for those wishing to move out of state.
Bottom line
Housing usually accounts for the largest chunk of living expenses, so it may not be surprising that residents of major cities are trying to make smart money moves by moving to a place with a lower cost of living.
But before you decide to pick up your life and move, run the numbers for your desired new city. In addition to the cost of housing, consider expenses such as utilities, groceries, and taxes.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Subscribe Today
Want extra-cash moves to come right to you?
Stop browsing endlessly. Get proven ways to earn pocket money, help cover rent, and crush your debt — sent to your inbox daily.