Study tracked movers for years after they left California. Here's what it found. |
FILE: In an aerial view, shipping cranes stand at the Port of Oakland in front of the San Francisco skyline in Oakland, Calif., on Oct. 24, 2022.
Californians have left the state in search of a lower cost of living for decades, migrating to neighboring states that promise cheaper housing and fewer taxes. But a new study quantifies just how much Californians who leave can save in housing costs and even their likelihood of owning a home after they depart.
Those who moved away from the Golden State can expect to save an average of nearly $700 a month in housing costs, according to a new report from the California Policy Lab. Rent is on average about 30% more affordable — around $631 less — and median home prices are nearly $396,000 less.
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For those California renters who dream of owning a home one day, people who left were 48% more likely........