{"id":73368,"date":"2021-11-08T05:00:18","date_gmt":"2021-11-08T13:00:18","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=73368"},"modified":"2021-11-05T13:08:01","modified_gmt":"2021-11-05T20:08:01","slug":"homebuyer-happiness-single-income-survey","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/homebuyer-happiness-single-income-survey\/","title":{"rendered":"34% of Recent Movers Live In Single-Income Households, Up From 29% Before the Pandemic: Survey"},"content":{"rendered":"

More than three-quarters of respondents report feeling happier after relocating.<\/span><\/i><\/h2>\n

More than one-third (34%) of people who moved during the coronavirus pandemic live in a home where only one adult has a full-time job. By comparison, just 29% lived in a single-income household before the pandemic.<\/span><\/p>\n

That\u2019s according to an August 2021 Redfin survey of 1,023 U.S. residents who have moved to a new home since March 2020.\"\"<\/span><\/p>\n

As the portion of people living in single-income households increased, the share living in dual-income households declined. Slightly more than half (58%) of the recent movers Redfin surveyed live in a home with two adults working a full-time job, down from 62% before the pandemic.<\/span><\/p>\n

“While some people <\/span>chose<\/span><\/i> to move down to a single-income household, others had no choice,\u201d <\/span>Redfin Deputy Chief Economist <\/span>Taylor Marr<\/span><\/a> said. \u201c<\/span>Thousands of Americans lost their jobs during the pandemic, and scores of parents had to leave the workforce when daycares and schools shut down. Most workers are rethinking where their careers fall on life\u2019s priority list.\u201d<\/span><\/p>\n

Remote work during the pandemic also enabled many families to relocate to more affordable places, where it\u2019s often more feasible to live in a home with just one income. In the third quarter, 30% of Redfin.com users were <\/span>looking<\/span><\/a> to move to a new metro area, up from 26% before the pandemic. Among the most popular destinations were Atlanta<\/a>, San Antonio<\/a> and Tampa, FL<\/a>\u2014all metros with median home sale prices below the national level.<\/span><\/p>\n

\u201cA lot of the families that were able to move down to one income during the pandemic were high earners,\u201d Marr said. \u201cHigh earners tend to have the flexibility to work remotely, which means it\u2019s easier for them to relocate to a more affordable place where only one adult needs to work full time. Lower-wage workers who are still required to show up in person, such as restaurant and grocery staff, are less likely to have the opportunity to move.\u201d<\/span><\/p>\n

A pandemic <\/span>retirement boom<\/span><\/a> may have also contributed to the increase in the share of single-income households. The pandemic drove more than <\/span>3 million<\/span><\/a> baby boomers into early retirement, according to a study by the Federal Reserve Bank of St. Louis.<\/span><\/p>\n

83% of Recent Movers Are Happier After Relocating<\/span><\/h3>\n

More than three-quarters (83%) of respondents said they are at least a little happier after moving. Just 7% reported being less happy and 11% said their happiness is about the same.\"\"<\/span><\/p>\n

Austin, TX<\/a> has seen an <\/span>influx<\/span><\/a> of out-of-towners move in during the pandemic. Many of them actually grew up in the area, left for a job, and are now able to come back and live near family, according to local Redfin real estate agent <\/span>Debbie Newby<\/span><\/a>.<\/span><\/p>\n

\u201cA majority of my buyers today are Texas natives who are thrilled to be coming home,\u201d Newby said. \u201cI recently worked with one young couple who had been living in the Bay Area and working in tech. The wife grew up in Austin and wanted to move back to be closer to her family members, one of whom was ill. They bought a home Near Zilker<\/a> Park in January and are now working remotely. They\u2019re ecstatic to be in Austin.\u201d<\/span><\/p>\n

While Austin home prices have <\/span>soared<\/span><\/a> well above the national median during the pandemic, the Texas metro remains more affordable than major coastal hubs including San Francisco<\/a> and New York<\/a>.<\/span><\/p>\n

\u201cMost people who move relocate to somewhere less expensive,\u201d Marr said. \u201cMoving tends to make people happier because it means they\u2019re getting more bang for their buck\u2014frequently in the form of additional space, better weather and schools, or a shorter commute to their workplace.\u201d<\/span><\/p>\n

Methodology<\/span><\/h2>\n

Redfin commissioned a survey of 1,023 U.S. residents who moved to a new home since March 1, 2020. The survey was fielded from Aug. 7, 2021 to Aug. 12, 2021 by research technology company Qualtrics. All 1,023 respondents answered the question about happiness, while<\/span> 889 of the 1,023 respondents answered the following questions about employment in their household:<\/span><\/p>\n

    \n
  • \u201cOn March 1, 2020, how many of the adults in your home worked a full-time job?\u201d<\/span><\/li>\n
  • \u201cSince your move, how many of the adults in your home now work a full-time job?\u201d<\/span><\/li>\n<\/ul>\n

    Respondents were given the following answer choices: 1, 2, 3, 4, 5 or more.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    More than three-quarters of respondents report feeling happier after relocating. More than one-third (34%) of people who moved during the coronavirus pandemic live in a home where only one adult has a full-time job. By comparison, just 29% lived in a single-income household before the pandemic. That\u2019s according to an August 2021 Redfin survey of […]<\/p>\n","protected":false},"author":13346,"featured_media":73371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Katz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg170bf170d167b138a07120b77fbb41ab","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg","caption":"Lily Katz"},"description":"As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.","url":"https:\/\/www.redfin.com\/news\/author\/lily-katzredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13346"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=73368"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/73371"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=73368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=73368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=73368"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=73368"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=73368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}