LA Exodus: These Are The Cities Angelenos Are Moving To Due To Soaring Housing Prices
LOS ANGELES (CBSLA) – A housing crisis in Los Angeles is forcing many residents to leave the area for more affordable housing – but some of the cities they're moving to may surprise you.
A new report from UC Berkeley found the five most popular areas Angelenos fled to from 2010 to 2016 were the San Francisco Bay Area, San Diego, Las Vegas, Phoenix and Dallas.
Similar to Los Angeles, the Bay Area is experiencing its own housing crisis that is driving prices to astronomical heights. A study released earlier this year found San Francisco's median home price rose to a sky-high record of $1.6 million. In April, housing prices were up almost 24 percent compared to the same time last year.
But a majority of residents who moved out of the City of Angels went north to the Bay.
The destinations where L.A. residents moved depended largely on income, according to the report.
Households with an annual household income of $200,000 or more moved to the Bay Area, with the average household earning more than 40 percent more in the Bay than in L.A.
A majority of those who moved to the San Diego metro area earned median household incomes between $100,000 and $200,000.
A majority of those who moved to other parts of California, as well as cities like Las Vegas and Phoenix, were lower-income earners.
Many people believe the housing crisis is the single biggest issue Californians currently face. Prop. 10 would expand the local governments' authority to enact rent control on residential property.
