The Bay Area is the leading region for outward migration.
A new study conducted by Redfin, found that many Bay Area residents migrate to other parts of the U.S. for more affordable inland counties. The most popular destination being Sacramento.
Redfin reported that more than a quarter of their website visitors from the Bay Area look to move to the state capital, followed by Los Angeles, Seattle, Portland and San Diego.
SF Gate reported that the California Department of Finance found that the number of people who moved out of San Francisco and into Sacramento in 2017 was 1,466. Not much of a surprise considering the difference in home pricing.
San Francisco's median home price is $910,060 and Sacramento’s is $314,300, according to online real estate database, Zillow.
"Job growth has slowed, and that leads to a lessening in demand to live in the Bay Area," said senior fellow at the Public Policy Institute of California, Hans Johnson, to The Chronicle in March.
"Jobs and housing are really the primary criteria driving people's decisions," he said, according to SF Gate. "It's kind of a balancing act between the two. If jobs predominate, people are moving in. If housing predominates, you have less people moving in."
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