Real Estate News

Where are millennials moving? Miami, of course

El Nuevo Herald

It’s not exactly a newsflash that New Yorkers are leaving the city in droves in favor of Florida. What may come as a surprise is where they’re going.

According to a new report by Realtor.com, Tampa and Jacksonville are the top two destinations in the country for northerners relocating to sunnier climes, with Orlando ranking No. 7. Also in the Top 10 are Charlotte, N.C. (3); San Antonio, Texas (4); Austin, Texas (5); Las Vegas, Nevada (6); Nashville, Tenn. (8); Raleigh, N.C. (9) and Portland, Ore.

Millennials aren’t always following their elders. First for the 24-34 age group is San Antonio, Texas, followed by Jacksonville, Tampa, Miami and Orlando. Rounding out the Top Ten are Oklahoma City; New Orleans; Charlotte, Austin and Raleigh.

Driving the migration are weather, housing prices and employment. The numbers tell the story: The median price of a home in New York City is $399,000, according to the report, while Miami’s median home price is a slightly more affordable $349,500. But of course, our weather is better.

Other points of national exodus: Chicago; Detroit; San Jose, Calif.; Los Angeles; Milwaukee; St. Louis; Cleveland; San Francisco and Philadelphia.

Data was based on realtor.com search traffic, cross-metro moving requests on moving.com and U.S. Census Data.

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