Each year roughly 40 million Americans, or 14% of the population, pack up and move at least once.
While much of them are younger people moving within the same city – people who decide to leave town altogether tend to do so over stagnating economic conditions, job opportunities elsewhere, or skyrocketing prices in major metropolitan areas.
[T]he reasons behind the decline in population in cities like Los Angeles and New York — overcrowding and high prices — are very different than the reasons for decreases in other cities on this list, notably Rust Belt cities like Flint, Michigan; Toledo, Ohio; and Rockford, Illinois; and even larger cities like St. Louis, Cleveland, and Milwaukee. These cities have been losing domestic migrants for decades due to stagnating economic conditions stemming from the decline of American manufacturing. –USA Today
“[I]t is trends of Americans moving to warmer climates, more affordable areas, and better job opportunities that have largely determined migration patterns in recent decades,” Michael Sauter of 24/7 Wall Street writes in USA Today, adding “Because of those long-term patterns, as well as the recent period of economic recovery, cities in some parts of the country have lost tens of thousands of residents.”
Now that housing prices have recovered in Los Angeles and have become too expensive for many residents, people are once again moving out of the city in droves. As of 2016, Los Angeles had the seventh highest median home value of any metropolitan area, at $578,200. Las Vegas’ median home value is just slightly more than half that, at $233,700. –USA Today