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New Study Reveals Where Americans Are Moving for Cheaper Rent and Higher-Paying Jobs
Living in the big city isn’t always as glorious as it may seem.
The booming housing market in major cities isn’t comparable to the average salary of middle class workers, making it pretty difficult to afford to live in a big city. According to Rent Jungle, “an average apartment within 10 miles of New York City, the locale where the most residents are fleeing, costs a staggering $3,519.”
The housing market in Los Angeles isn’t any better. In order to own a median-priced home in L.A., a buyer would need some $600,000. The average worker in L.A. makes an annual income around $55,870, shared L.A. Weekly, making living in the city complicated.
Moving.com and Realtor.com partnered up to see which cities were higher and lower in population and to see where people were moving. The results were not surprising due to cost of living and income.
“America’s largest cities are losing armies of residents, and there just aren’t enough people moving in to compensate,” Realtor.com explained.
So where is everyone going???
Most city residents are looking to move to other cities, however they want the exact opposite of what they just had. The are looking for “affordable housing and booming job markets.” All of these requirements make Florida a very viable choice as a place to live.
Florida has become the top state to move to with Tampa, Jacksonville, and Orlando being the most popular cities. The state does not have income tax and job creation is pretty high at the moment. The state is also still recovering from the market crash making the housing prices pretty low. According to Bankrate, “a median-priced home in the Tampa metro area costs around $138,000.”
Following Florida in popularity is Texas, which has soared in the job market thanks to major tech companies like IBM, Apple, Google, and Facebook having headquarters there.
The big conclusion? Sometimes city life isn’t as nice as it may seem.