By and large, the people who moved during the pandemic have more money in their pocket than they did in early 2020.
Seventy-eight percent of surveyed Redfin.com users who moved to a different metro area from March 2020 through March 2021 have the same or more disposable income after their move. A big driver of that is lower housing costs. Sixty-eight percent of respondents said they have the same or lower housing costs.
More than one-quarter, 27%, of people who moved in the last year or plan to move in the next year say living somewhere more affordable is a motivating factor in their move. A smaller percentage, 21%, said they're relocating to live somewhere with lower taxes.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
