More People Are Leaving, California for Affordable, Homes Elsewhere, Study Finds.<br />According to a recent study from real estate <br />website Redfin, residents of California are <br />seeking more affordable housing in other states.<br />Fox News reports that the Redfin analysis shows <br />an influx of people moving to Las Vegas, Phoenix, <br />Tampa and Orlando to find more affordable options.<br />Fox News reports that the Redfin analysis shows <br />an influx of people moving to Las Vegas, Phoenix, <br />Tampa and Orlando to find more affordable options.<br />The typical Las Vegas home costs <br />less than half as much as one in <br />Los Angeles, San Francisco or <br />Seattle, the most common <br />origins for buyers moving in. , Redfin analysis, via Fox News.<br />The typical Las Vegas home costs <br />less than half as much as one in <br />Los Angeles, San Francisco or <br />Seattle, the most common <br />origins for buyers moving in. , Redfin analysis, via Fox News.<br />Phoenix and Tampa are the <br />next most popular destinations. <br />Along with Las Vegas, they’re <br />increasingly prone to natural <br />disasters like heat and flooding, <br />but relatively affordable, Redfin analysis, via Fox News.<br />Phoenix and Tampa are the <br />next most popular destinations. <br />Along with Las Vegas, they’re <br />increasingly prone to natural <br />disasters like heat and flooding, <br />but relatively affordable, Redfin analysis, via Fox News.<br />The same analysis found that San Francisco <br />and Los Angeles ranked in the top 3 cities with <br />the most people looking for out-of-state housing.<br />The same analysis found that San Francisco <br />and Los Angeles ranked in the top 3 cities with <br />the most people looking for out-of-state housing.<br />At $412,000, the median home in Las Vegas costs <br />less than a third of the median price in <br />San Francisco, which currently stands at $1,405,500.<br />At $412,000, the median home in Las Vegas costs <br />less than a third of the median price in <br />San Francisco, which currently stands at $1,405,500.<br />Fox News reports that the study was based on <br />two million Redfin users between April and June.<br />According to another online real estate website, <br />MyEListing.com, California lost over $340 million in IRS tax <br />revenue in 2021 as a result of residents leaving the state.<br />Despite its numerous attractions, <br />from the booming tech industry <br />and world-class universities to <br />beautiful landscapes and cultural <br />richness, California's high personal <br />income tax rates seem discouraging <br />for many high-wealth individuals. , Redfin analysis, via Fox News.<br />Despite its numerous attractions, <br />from the booming tech industry <br />and world-class universities to <br />beautiful landscapes and cultural <br />richness, California's high personal <br />income tax rates seem discouraging <br />for many high-wealth individuals. , Redfin analysis, via Fox News.<br />This, coupled with the state's <br />high cost of living, will likely fuel <br />a wealth migration out of California, Redfin analysis, via Fox News
