Cities like LA are losing more residents than they’re gaining

The cost of housing in costliest US cities is beginning to impact population flow

TRD LOS ANGELES /
Nov.November 03, 2016 10:30 AM

Some of the costliest cities in the U.S. — looking at you, L.A. — are actually losing more residents than they’re gaining, according to a new report.

Population flow is skewing away from expensive cities such as New York, L.A. and San Francisco and towards more affordable cities such as Dallas. Those moving tend to rank lower on the income scale, according to a report by Trulia cited by the Wall Street Journal.

Between 2010 and 2014, more than 27,000 people making less than $30,000 a year moved from expensive cities to cheaper ones, Trulia’s data shows. But only 2,438 people making more than $100,000 made the same move.

Many are moving in a bid to escape the rising costs of housing, while others are moving in search of better opportunities.

“In California the cost of housing is so high. The numbers didn’t make sense, in terms of acquiring property and renting it out,” said Karim Jinnah, a real estate investor who recently made the move to Dallas from Southern California. “I couldn’t really do that in Los Angeles, but I could do that in Dallas.”

Many Angelenos are also moving to Las Vegas and Phoenix, a Realtor.com report found earlier this year. [WSJ]Cathaleen Chen


Related Articles

arrow_forward_ios
Garcetti bans residential rent increases on rent-controlled units in LA
(Credit:iStockphoto)

As schools, work shut down, Garcetti puts moratorium on evictions

As schools, work shut down, Garcetti puts moratorium on evictions
Gavin Newsom signed bills to facilitate backyard home construction.

Yes, in my backyard: Brokers say new accessory dwelling unit law will reduce barriers to building

Yes, in my backyard: Brokers say new accessory dwelling unit law will reduce barriers to building
From left: Paul Habibi and Henry Manoucheri

“A very dangerous precedent:” Real estate industry reacts to NY’s sweeping rent reform measures

“A very dangerous precedent:” Real estate industry reacts to NY’s sweeping rent reform measures
Mitsui Fudosan’s DTLA tower project faces renewed opposition

Mitsui Fudosan’s DTLA tower project faces renewed opposition

Mitsui Fudosan’s DTLA tower project faces renewed opposition
Here are the latest under 50-unit resi projects proposed in LA

Here are the latest under 50-unit resi projects proposed in LA

Here are the latest under 50-unit resi projects proposed in LA
Gov. Jerry Brown signs housing bills into law

Gov. Jerry Brown signs housing bills
into law

Gov. Jerry Brown signs housing bills
into law
59% of LA voters have considered moving because of high rents: report  

59% of LA voters have considered moving because of high rents: report  

59% of LA voters have considered moving because of high rents: report  
Lawmakers amend housing bills to gain more support

Lawmakers amend housing bills to gain
more support

Lawmakers amend housing bills to gain
more support
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...