As the urban flight continues, there are some less dense, more affordable cities experiencing a large influx of new residents. According to CNBC, Santa Barbara, Louisville, and Buffalo have all seen a big net inflow. In just the third quarter of 2020, Santa Barbara’s net inflow jumped 124% compared to a year ago. Louisville’s advanced by 113% while Buffalo’s net inflow increased by 107%. Redfin’s chief economist says remote work is to blame. Other cities seeing a large influx include El Paso, Tulsa, Okla. and Burlington, VT.
Redfin’s top 10 list includes El Paso, Texas; Burlington, Vermont; and Tulsa, Oklahoma. Tulsa has a program, Tulsa Remote, which actually pays people to move to the city and work remotely. Most of the destination cities have relatively low housing costs compared with larger metropolitan areas.
Santa Barbara is the exception. Its draw is that it is less dense than Los Angeles but close enough to commute if necessary.
Looking at the larger state picture, Florida appears to be the biggest recipient of flight from New York. Nearly twice as many Redfin searchers as last year, or 22,000 more, looked to move into Florida than out in the third quarter. That is the highest net inflow since Redfin began tracking migration three years ago.
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