The Big Apple Turned Rotten? Top 10 U.S. Cities Homebuyers Want to Leave in 2022

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Across the nation, finding an affordable home seems more out of reach than ever before.

2022, The Year of Relocation

With rising interest rates, high inflation, and other recession indicators, many are choosing to leave their current cities to relocate, according to a recent Redfin report.

$1.5 Million Average

With the average home in San Francisco and San Jose over $1.5 million and mortgage rates over 5%, a recipe for an extremely high payment. Many are simply saying no to this reality. Here are the top cities homebuyers are flowing out of in droves.

San Francisco

Net outflow Q2 2022: 48,718

San Francisco Top Destinations

Sacramento, CA and Seattle, WA

Los Angeles

Net outflow Q2 2022: 33,712

Los Angeles Top Destinations

San Diego, CA and Phoenix, AZ

New York City

Net outflow Q2 2022: 35,165

New York City Top Destination

Philadelphia, PA

Washington, DC

Net outflow Q2 2022: 24,492

Washington, DC Top Destination

Salisbury, MD

Seattle

Net outflow Q2 2022: 18,594

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Seattle Top Destination

Phoenix, AZ

Boston

Net outflow Q2 2022: 12,493

Boston Top Destination

Portland, ME

Detroit

Net outflow Q2 2022: 7334

Detroit Top Destination

Cleveland, OH

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Denver

Net outflow Q2 2022: 5635

Denver Top Destination

Chicago, IL

Chicago, IL

Net outflow Q2 2022: 4769

Chicago Top Destination

Cape Coral, FL

Minneapolis

Net outflow Q2 2022: 2795

Minneapolis Top Destination

Chicago, IL

 

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As a certified credit counselor and syndicated writer at MaxMyMoney, Max has coached over 250 Millennials to help take the stress out of money. When Max is not coaching, you'll find him reading financial books, indoor cycling, or visiting local pawn shops looking for swiss-made watches.