LA renters are packing their bags: Here’s why more people are leaving than moving in
Data from Zillow indicates that Los Angeles is experiencing a net outflow of renters, with many moving to more affordable cities like Las Vegas, Phoenix, and Salt Lake City. This trend is driven by high housing costs and a general population decline in Los Angeles County.
Why it matters
The migration patterns highlight the ongoing affordability crisis in major US coastal cities and its impact on domestic population shifts.
More Los Angeles renters are looking to move out of the city than renters elsewhere are looking to move in, with Las Vegas emerging as their top out-of-state destination, according to new data from online real estate marketplace Zillow.Zillow analysed rental-page views across housing markets in the US to determine where prospective renters searching in each city were coming from.The data showed that Los Angeles was a major source of out-of-town rental searches for several cities.Las Vegas was the most popular out-of-state destination among Los Angeles renters, accounting for about 5.4% of rental-page views in the city, according to the New York Post.Phoenix followed with 2.3%, while Salt Lake City accounted for 2.1% of rental-page views from Los Angeles.The trend comes as Los Angeles continues to grapple with high housing costs.
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