Thousands of Californians Are Leaving the San Francisco Bay Area During the COVID-19 Pandemic: New Data From Relocation Website moveBudhha.com
Amidst the COVID-19 pandemic in 2020, thousands of San Francisco Bay Area residents are relocating to cities throughout Texas, Washington, New York, and Colorado.
ATHENS, Ga., December 2, 2020 (Newswire.com) - moveBuddha.com, a moving company booking website, released new data showing 6,291 residents of the San Francisco Bay Area relocated from California between March 11-September 23, 2020.
moveBuddha's user data also reflects top moving destinations for Bay Area residents, where Austin, Seattle, New York City, and Portland, Oregon dominated the Top 15 cities. Top-ranking state destinations for the Bay Area include Texas, New York, and Florida, although 20.7% of residents also relocated to nearby states such as Washington, Colorado, Oregon, and Nevada.
Ryan Carrigan, moveBuddha's co-founder and CEO, believes the large number and rate of outbound residents suggest a response to the COVID-19 pandemic, as many Bay Area residents now work remotely.
"49.8% of Bay residents live in counties where the median annual salary is nearly 2-3 times above the national average," says Carrigan. "The same county residents live in or near Silicon Valley, which means there's a good possibility that many work in the same tech and finance industries that dominate the region's business space."
In addition to the region's high earning population, Carrigan suspects many outbound residents to reflect communities struggling to maintain their high living costs. "While some tech companies are incentivizing outbound moves to cities with lower costs of living, cities like San Francisco and Oakland are still the most expensive urban areas in the country right now," says Carrigan.
"Every popular moving destination in the Top 15 cities for Bay residents provides lower median real estate values, monthly mortgages, and monthly rent," says Carrigan. "With the exception of Seattle and New York City, nearly any region in the United States is more affordable than the Bay Area."
For moveBuddha.com's full analysis and list of the Bay Area's Top 15 city and Top 10 state destinations, visit this link: https://www.movebuddha.com/blog/californians-leave-sf-pandemic/
moveBuddha.com is one of the largest moving company booking websites in the United States. The company was founded in 2015 and is best known for its Moving Cost Calculator online quoting tool and Should I Move For Work? decision tool.
For any and all questions, please don't hesitate to reach out to Ryan Carrigan (full contact info below).
320 E Clayton St, Suite 508
Athens, GA 30601
Categories: Real Estate