Get All Access for $5/mo

Nearly 25% of U.S. Home Buyers Want to Relocate — and This State Is No. 1 on Their List People want larger homes at lower costs.

By Amanda Breen Edited by Jessica Thomas

Sylvain Sonnet | Getty Images

With housing costs skyrocketing across the country, many U.S. home buyers are considering all of their options, especially within the more affordable Sun Belt states.

According to a recent report from online real estate brokerage Redfin.com, nearly a quarter (24.1%) of its users are searching for properties in cities where they don't live — up roughly 6% since 2019.

Redfin's data revealed that the Sun Belt metros are generally most attractive to relocating home buyers who want larger homes at lower costs. For example, the typical home in Las Vegas cost $410,000 in October — approximately half that of an average Los Angeles home ($823,000).

Still, high inflation remains a concern in many Sun Belt cities. Per The New York Times, cities like Phoenix, Miami, Atlanta and Tampa are seeing price increases well above 10% this year, while the national rate clocked in at 8.5% in July.

Related: 5 Reasons Why Real Estate Is a Great Investment

The following 10 cities had the highest net inflow (number of people looking to move into a city minus the number of people looking to leave) of property searches on Redfin's website — with four of the top spots going to Florida.

1. Sacramento, California: 7,800

2. Las Vegas, Nevada: 7,100

3. Miami, Florida: 6,700

4. San Diego, California: 6,500

5. Tampa, Florida: 5,600

6. Phoenix, Arizona: 4,700

7. Cape Coral, Florida: 4,600

8. North Port-Sarasota, Florida: 4,300

9. Dallas, Texas: 3,800

10. Orlando, Florida: 3,700

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

Growing a Business

How to Build, Grow and Make Money With Ecommerce

To grow your online business, you need to develop a strategy and invest your time wisely. These actionable tips can attract customers and increase online revenue.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Franchise

Kick-Start Your Small Business With These Cost Effective Strategies

Starting a small business is an exciting adventure, brimming with both opportunities and challenges. A key to success is effectively managing costs from the outset.