Nearly 25% of US Homebuyers Want To Move To Florida
More people are looking to relocate from big cities to Sun Belt states where homes are cheaper — particularly a move to Florida.
Escalating housing costs squeeze out buyers in many cities in the US.
According to Redfin.com’s most recent data, nearly 25% of the property search queries online are for cities where the person doesn’t live.
That’s up roughly 10% from five years ago.
Out of 100 metro areas examined during the three months that ended in October – the following 10 cities had the highest net inflow of property searches on Redfin’s website.
Net inflow is the number of people looking to move into a city minus the number of people looking to leave.
Sacramento, California: 7,800
Las Vegas: 7,100
San Diego: 6,500
Tampa, Florida: 5,600
Cape Coral, Florida: 4,600
North Port-Sarasota, Florida: 4,300
Orlando, Florida: 3,700
The most popular relocation choices are in Sun Belt states in the Southwest and Southeast, with half of the move to Florida.
And the majority of those looking to relocate are from large cities, especially San Francisco, Los Angeles, New York, Washington, D.C., and Boston.
The following cities had the largest outflow of property searches, according to Redfin’s data:
San Francisco: 35,800
Los Angeles: 34,100
New York: 22,400
Washington, D.C.: 18,100
The study says buyers choose Sun Belt metros to avoid rising housing costs largely because homes are cheaper than they’d find in the largest U.S. cities.
For instance, a typical home in Las Vegas costs around $410,000, roughly half of what it would cost in LA.
To measure the share of homebuyers looking to relocate from one metro to another, a person browsing Redfin for properties in another city counts as a migrant.
Migrants are given a weighted score based on the share of properties searched in a city where they don’t live.
The net inflow rankings were compiled based on the total number of migrants.
This article originally appeared on GOBankingRates.com: 25% of U.S. Homebuyers Want To Move — This State Is the Top Destination.
Move to Florida – Is Jacksonville (JAX) a good place to live?
The most populous city in FLORIDA, Jacksonville, currently has around 911,507 people living in the area.JAX ranked 5th hottest job market in the United States and the top market in Florida by The Wall Street Journal this week, jumping from 15th in 2020.
The rankings measured five factors: the unemployment rate, labor-force participation rate, job growth, labor-force growth, and wage growth.
JAX is where the jobs are.
More than 3,000 jobs in the targeted industries of advanced manufacturing, financial services, health & biomedical, IT & innovation, and advanced transportation & logistics are available in JAX.
You can find it here, from Fortune 500 companies to innovative startups, including recent relocations or expansions from data analytics powerhouse Dun & Bradstreet, fintech firm NYMBUS, contact lens manufacturer Johnson & Johnson Vision, and aerospace visionary Redwire Space.
JAX has a lower cost of living than the U.S. average, and with Florida’s zero personal state income tax, citizens get more of their paycheck!
Jacksonville, FL, offers residents a suburban feel and one of the best places to live in the sunshine state.
Noble Sky International (NSI) has helped our investors acquire investment properties in JAX since 2014.
You can view the US Real Estate Investment Returns for NSI’s Clients here.
Real Properties. Real Clients. Great ROIs.
In addition to a hot job market, there are plenty of reasons for Americans to move to Florida, especially Jacksonville.
220 days of sunshine a year, 87 miles of the Atlantic Coastline, and the country’s most extensive urban park system.
The city has an enviable climate, making getting fresh air in the great outdoors fun.
Coupled with a vibrant and diverse food scene, citizens find any fare at any budget that suits their palate.
According to Find Your JAX, the job market is heating up. More new residents are planting roots in Northeast Florida, with nearly 40,000 additional residents in the last year – an average of 109 new residents per day.
If you are looking to invest in a Flip, Rental, or Airbnb, you should go where the people need housing.
So what are you waiting for?
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