LOS ANGELES (CBSLA) — All the gold it takes to live in San Francisco and Los Angeles has people fleeing two of the Golden State’s biggest cities.
According to a report by Redfin, the skyrocketing cost of living has more people leaving San Francisco than any other city in the United States, followed by New York and Los Angeles.
“People leaving coastal hubs in search of affordability has been a consistent trend for the last five years,” Redfin’s chief economist Nela Richardson said in a statement.
The analysis was based on more than a million Redfin users searching for homes across 75 metro areas from October through December.
The outflow from these high-cost cities — despite the availability of high-paying jobs — is expected to intensify as tax reform kicks in.
The cities with more people coming than going include Sacramento, Phoenix, Las Vegas and San Diego.