Migration

Redfin’s chief economist predicts the share of Americans relocating will keep increasing as the year goes on, with rising mortgage rates and skyrocketing rents making affordable metros more attractive than ever.  A record 32.4% of Redfin.com users nationwide looked to move to a different metro area in January. That’s up from the previous peak of […]

Relocators have more to spend on homes than locals in 42 of the 49 cities included in this analysis. The average out-of-towner moving to Nashville in 2021 had $736,900 to spend on a home, 28.5% higher than the $573,400 average budget for local buyers. That’s the biggest gap among the cities included in this analysis. 

Phoenix, Dallas and Orlando were the most popular migration destinations of 2021. But with home prices up roughly 30% in certain Sun Belt hotspots, some locals are getting priced out and some relocators may have second thoughts. Nationwide, 31% of Redfin.com users looked to relocate last year, up from 26% before the pandemic. Phoenix was