Miami is the Most Popular U.S. Migration Destination for the 4th Straight Month

Rhea-AI Summary

According to a Redfin report, 30.3% of Redfin.com users sought to relocate to different metro areas in October and November 2021, down from a peak of 31.5% earlier in the year but significantly higher than pre-pandemic levels of 25-26%. Miami remains the top destination for migration, with a net inflow of 9,376 users, nearly tripling since last year. The trend shows a strong desire among homebuyers to leave expensive coastal cities like New York and San Francisco in favor of more affordable locations, particularly in Florida, driven by remote work flexibility.

Positive

• Miami leads the U.S. migration destinations for four consecutive months with a net inflow of 9,376 users.
• Net inflow into Miami nearly tripled since last year, indicating strong buyer interest.
• Overall migration intentions remain significantly higher compared to pre-pandemic levels, reflecting a robust housing market.

Negative

• Interest in relocating slightly declined from record highs, suggesting potential softening demand.

SEATTLE, Dec. 21, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Nationwide, 30.3% of Redfin.com users looked to move to a different metro area in October and November, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That's down from a record-high 31.5% in the first quarter of 2021 but well above pre-pandemic levels. 

Homebuyer interest in relocating to a different part of the country accelerated as the coronavirus pandemic took hold in the first half of 2020 and reached its peak at the beginning of this year before declining slightly and leveling out. Redfin.com users are showing significantly more interest in relocating than before the pandemic, when levels stood at 25% to 26%. 

"At the beginning of the pandemic, remote work gave homebuyers the opportunity to consider a new location," said Redfin Chief Economist Daryl Fairweather. "Now the labor market is incredibly tight, which means even homebuyers with in-person occupations can move somewhere new and be confident they can secure employment in their new town."

Influx of homebuyers into South Florida continues 

Miami was the most popular migration destination of any major U.S. metro for the fourth month in a row. Next come Phoenix, Las Vegas, Sacramento and Tampa. Two other Florida metros also appear on the top 10, with Cape Coral taking the number seven spot and North Port coming in 10th. The popularity of migration destinations is determined by net inflow, a measure of how many more Redfin.com home searchers looked to move into a metro than leave. 

Florida has become a particularly popular destination this year as remote workers and retirees flock to the state in search of beaches, warm weather, low taxes and more affordable housing than big cities on the East Coast or West Coast. Net inflow into Miami has nearly tripled since this time last year, and net inflow into Tampa has nearly doubled, with New York as the number-one origin for Redfin.com users moving to both areas.

"More than half of my active clients are either investors or people who are relocating, coming from places like California, Oregon, New York and New Jersey," said Miami Redfin agent Cristina Llanos. "The relocators tend to be young remote workers who are moving to Miami for the affordability and sunshine. One client said they're coming to Miami because they hate the snow; another wants to raise their kids in an ethnically diverse city."

Table: Top 10 Metros by Net Inflow of Users and Their Top Origins
Rank	Metro*	Net Inflow, October & November 2021†	Net Inflow, October & November 2020	Portion of Searches from Users Outside the Metro, October & November 2021	Portion of Searches from Users Outside the Metro, October & November 2020	Top Origin	Top Out- of-State Origin
1	Miami, FL	9,376	3,170	32.0%	26.4%	New York, NY	New York, NY
2	Phoenix, AZ	8,683	7,664	35.4%	36.2%	Los Angeles, CA	Los Angeles, CA
3	Las Vegas, NV	6,610	7,819	42.5%	52.1%	Los Angeles, CA	Los Angeles, CA
4	Sacramento, CA	6,403	7,945	40.8%	49.1%	San Francisco, CA	Seattle, WA
5	Tampa, FL	6,011	3,950	45.8%	56.4%	Orlando, FL	New York, NY
6	Dallas, TX	5,103	5,955	25.3%	31.4%	Los Angeles, CA	Los Angeles, CA
7	Cape Coral, FL	4,366	3,154	67.1%	75.1%	Chicago, IL	Chicago, IL
8	San Antonio, TX	4,345	2,265	42.9%	44.0%	Houston, TX	Los Angeles, CA
9	Atlanta, GA	4,164	6,459	20.0%	26.7%	New York, NY	New York, NY
10	North Port, FL	4,044	2,211	65.2%	77.1%	Chicago, IL	Chicago, IL
*Combined statistical areas with at least 500 users in Q4 2021 †Negative values indicate a net outflow; among the one million users sampled for this analysis only

 

Homebuyers are leaving big cities like San Francisco, Los Angeles and New York 

San Francisco, Los Angeles, New York, Washington, D.C. and Seattle top the list of places Redfin.com users looked to leave in October and November. That's according to net outflow, a measure of how many more Redfin.com home searchers looked to leave a metro than move in. 

Big, expensive coastal cities typically top the list of places Redfin.com users are looking to leave, a trend that has accelerated with the pandemic and remote-work options. Many big-city dwellers with white-collar jobs are able to work remotely from more affordable locations with a lot of recreational opportunities. 

Table: Top 10 Metros by Net Outflow of Users and Their Top Destinations
Rank	Metro*	Net Outflow, October & November 2021	Net Outflow, October & November 2020	Portion of Local Users Searching Elsewhere, October & November 2021	Portion of Local Users Searching Elsewhere, October & November 2020	Top Destination	Top Out- of-State Destination
1	San Francisco, CA	41,407	33,710	22.9%	24.0%	Sacramento, CA	Seattle, WA
2	Los Angeles, CA	33,889	20,879	19.2%	18.0%	San Diego, CA	Phoenix, AZ
3	New York, NY	23,320	37,447	26.7%	35.2%	Philadelphia, PA	Philadelphia, PA
4	Washington, DC	15,805	10,282	14.7%	12.9%	Salisbury, MD	Salisbury, MD
5	Seattle, WA	13,128	2,528	16.3%	14.1%	Phoenix, AZ	Phoenix, AZ
6	Boston, MA	7,815	312	15.9%	12.2%	Portland, ME	Portland, ME
7	Chicago, IL	5,678	5,819	12.5%	12.3%	Cape Coral, FL	Cape Coral, FL
8	Denver, CO	2,675	4,433	25.6%	27.7%	Chicago, IL	Chicago, IL
9	Minneapolis, MN	1,518	-977	22.2%	18.2%	Chicago, IL	Chicago, IL
10	Detroit, MI	1,313	710	23.8%	22.6%	Grand Rapids, MI	Chicago, IL
*Combined statistical areas with at least 500 users in Q4 2021 †Among the one million users sampled for this analysis only

 

To read the full report, including charts and additional metro-level highlights, please visit: https://www.redfin.com/news/november-2021-housing-migration-trends/  

About Redfin 
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

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SOURCE Redfin

FAQ

What percentage of Redfin users looked to relocate in late 2021?

30.3% of Redfin.com users sought to relocate to different metro areas in October and November 2021.

Which city has the most significant net inflow of homebuyers?

Miami has the highest net inflow of homebuyers with 9,376 users looking to relocate there.

How does the current migration trend compare to pre-pandemic levels?

The current migration trend is significantly higher than pre-pandemic levels of 25-26%.

What are the main reasons for people relocating to Florida?

Many are attracted to Florida for its beaches, warm weather, low taxes, and more affordable housing.

Are big cities like San Francisco losing residents?

Yes, cities like San Francisco, Los Angeles, and New York have seen an increase in net outflows as residents seek more affordable locations.