Angelenos are moving — to Las Vegas
L.A., it’s not you — it’s your housing costs.
Disenchanted Angelenos, it turns out, are consistently moving to places with lower costs of living, like Las Vegas. Phoenix and Dallas are also hot second-city destinations, according to a new report from Realtor.com.
What’s so appealing about Sin City? For starters, its median home price is $260,000 — that’s less than half the price of what it is in L.A., where that figure is $657,000.
The city losing most of its residents is New York, followed by Chicago, Detroit and San Jose. L.A. is ranked fifth on that list.
On the other end of the spectrum, the cities gaining the most residents are both in Florida: Tampa and Jacksonville. They are followed by Charlotte, San Antonio and Austin.
L.A., indeed, has seen a rise in housing costs. The percentage of million dollar homes is rising at a particularly fast clip. About 16.3 percent of all homes in L.A. County now cost $1 million or more, compared to 8 percent four years ago. [Realtor.com] — Cathaleen Chen