Latest news with #CaliforniaExodus
Yahoo
3 days ago
- Business
- Yahoo
Americans are now abandoning some of California's once-coveted cities — here's where they're headed instead
It's no secret that California's golden glow has started to dim for many residents. The latest PODS Moving Trends Report reveals a mass migration as people pack up and move out of the Golden State, with seven cities being hit especially hard. The reasons? Soaring housing prices, crime concerns, tax burdens, and the dream of a more affordable life elsewhere. Here are the top five California cities Americans are ditching and the new hot spots where they're landing. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) California is home to seven of the top 20 U.S. cities or metro areas with the highest number of residents packing up and moving out, according to the report. But the top five cities experiencing the drain are: Stockton-Modesto People are leaving due to factors such as high crime rates, poverty, and homelessness, making it less attractive for families and businesses, and lacing it in the 13th spot on the report. Santa Barbara Despite coastal beauty and high-end allure, Santa Barbara is seeing an exodus, placing it in 11th spot. According to recent data, the city's population has dropped by over 4% since 2020. Despite its postcard-perfect charm, residents are struggling to keep up with home prices and an unemployment rate above the national average. San Diego Creeping up to the fifth spot from last year's eighth means this city is losing more residents. Beautiful beaches simply can't make up for the soaring cost of living. San Diego's laidback lifestyle is being overshadowed by housing shortages and rising crime, meaning residents are leaving. San Francisco Once a tech-fueled dreamscape, San Francisco is bleeding residents (and businesses) and landing in the second spot again since last year. Eye-watering rents, visible homelessness, and a spike in crime are pushing people to reconsider the Bay. The city ranks at the very bottom of inbound vs. outbound moves, according to moveBuddha. Los Angeles Topping the outbound stats in the PODS study for the second consecutive year in a row, Los Angeles has been the poster child for California's migration crisis. The sky-high taxes, pricey housing, and congested traffic are pushing even celebrities to greener pastures. Not to mention wildfires and issues with insurance coverage. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it A Public Policy Institute of California survey shows homelessness has increased in many Californian communities and that housing affordability is a problem. The majority of people who leave are heading to states with lower taxes, lower housing costs, and higher perceived quality of life. And according to a survey by SpareFoot, 26% of Americans who moved in 2024 did so for lower living costs, and 51% claimed safety was a major motivator. Many are looking for better work-life balance and lower taxes. So, where is everybody going? Here are the top relocation destinations: Texas Cities like Dallas-Fort Worth are rolling out the welcome mat. In fact, it's fifth according to PODS on a list of the 20 top cities people are moving to in 2025. One of the fastest-growing metro areas in the United States, the area's affordability, economic opportunities, and high quality of life make it an obvious choice for budget-conscious movers. Florida The Sunshine State is another no-tax haven that's especially attractive to retirees and remote workers. Cities like Ocala (second on PODS) and Jacksonville (10th) are booming with growth and sunshine. North Carolina Raleigh (third) and Wilmington (tied for first) are stealing some of California's spotlight with booming tech and healthcare sectors, low living costs, and family-friendly communities. North Carolina offers a strong job market without the sticker shock of California. South Carolina Greenville-Spartanburg (fourth) and Myrtle Beach (tied for first) are charming, offer job opportunities, and have a much lower cost of living. It's Southern hospitality that's attracting many Californians. California's still got the sunshine, but for many, it's just not worth the price tag anymore. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
3 days ago
- Business
- Yahoo
Americans are now abandoning some of California's once-coveted cities — here's where they're headed instead
It's no secret that California's golden glow has started to dim for many residents. The latest PODS Moving Trends Report reveals a mass migration as people pack up and move out of the Golden State, with seven cities being hit especially hard. The reasons? Soaring housing prices, crime concerns, tax burdens, and the dream of a more affordable life elsewhere. Here are the top five California cities Americans are ditching and the new hot spots where they're landing. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) California is home to seven of the top 20 U.S. cities or metro areas with the highest number of residents packing up and moving out, according to the report. But the top five cities experiencing the drain are: Stockton-Modesto People are leaving due to factors such as high crime rates, poverty, and homelessness, making it less attractive for families and businesses, and lacing it in the 13th spot on the report. Santa Barbara Despite coastal beauty and high-end allure, Santa Barbara is seeing an exodus, placing it in 11th spot. According to recent data, the city's population has dropped by over 4% since 2020. Despite its postcard-perfect charm, residents are struggling to keep up with home prices and an unemployment rate above the national average. San Diego Creeping up to the fifth spot from last year's eighth means this city is losing more residents. Beautiful beaches simply can't make up for the soaring cost of living. San Diego's laidback lifestyle is being overshadowed by housing shortages and rising crime, meaning residents are leaving. San Francisco Once a tech-fueled dreamscape, San Francisco is bleeding residents (and businesses) and landing in the second spot again since last year. Eye-watering rents, visible homelessness, and a spike in crime are pushing people to reconsider the Bay. The city ranks at the very bottom of inbound vs. outbound moves, according to moveBuddha. Los Angeles Topping the outbound stats in the PODS study for the second consecutive year in a row, Los Angeles has been the poster child for California's migration crisis. The sky-high taxes, pricey housing, and congested traffic are pushing even celebrities to greener pastures. Not to mention wildfires and issues with insurance coverage. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it A Public Policy Institute of California survey shows homelessness has increased in many Californian communities and that housing affordability is a problem. The majority of people who leave are heading to states with lower taxes, lower housing costs, and higher perceived quality of life. And according to a survey by SpareFoot, 26% of Americans who moved in 2024 did so for lower living costs, and 51% claimed safety was a major motivator. Many are looking for better work-life balance and lower taxes. So, where is everybody going? Here are the top relocation destinations: Texas Cities like Dallas-Fort Worth are rolling out the welcome mat. In fact, it's fifth according to PODS on a list of the 20 top cities people are moving to in 2025. One of the fastest-growing metro areas in the United States, the area's affordability, economic opportunities, and high quality of life make it an obvious choice for budget-conscious movers. Florida The Sunshine State is another no-tax haven that's especially attractive to retirees and remote workers. Cities like Ocala (second on PODS) and Jacksonville (10th) are booming with growth and sunshine. North Carolina Raleigh (third) and Wilmington (tied for first) are stealing some of California's spotlight with booming tech and healthcare sectors, low living costs, and family-friendly communities. North Carolina offers a strong job market without the sticker shock of California. South Carolina Greenville-Spartanburg (fourth) and Myrtle Beach (tied for first) are charming, offer job opportunities, and have a much lower cost of living. It's Southern hospitality that's attracting many Californians. California's still got the sunshine, but for many, it's just not worth the price tag anymore. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
01-05-2025
- Business
- Yahoo
California's big cities are slowly bouncing back, new population data show
California's population increased for the second consecutive year, with much of the growth coming to the state's biggest cities, according to new data from the California Department of Finance released Thursday. The latest numbers for calendar year 2024 confirm the end of the so-called California Exodus that saw the Golden State's population shrink for the first time in decades. Seven of the state's 10 largest cities recorded population growth as they bounced back from the pandemic-era shrinking, which hit hardest in most of the state's urban centers. By the end of 2024, the state's population nearly eclipsed its pre-pandemic peak, but was still around 9,000 people short of the previous high-water mark from April 2020, reflecting slow growth in the years since then. From April 2020 to January 2022, the state lost some 360,000 residents, according to data from the California Department of Finance. California added about 108,000 people in 2024 after adding nearly 200,000 in 2023. If growth continues, the state should eclipse its pre-pandemic population figure in 2025. 'People from across the nation and the globe are coming to the Golden State to pursue the California Dream, where rights are protected and people are respected," Gov. Gavin Newsom said in a statement. "As the fourth largest economy in the world — from the Inland Empire to the Bay Area — regions throughout California are growing, strengthening local communities and boosting our state's future." "We'll continue to cut tape, invest in people, and seek real results from government to ensure we build on this momentum — all of which are at risk with the extreme and uncertain tariffs,' Newsom said. The biggest population winners were Bakersfield, which grew by 1.2% in 2024, and San Diego, which grew by 1%. Los Angeles grew by 0.4%. Read more: How major demographic changes of Asian and Latino immigrants are transforming California In the Bay Area, San Jose and San Francisco saw their populations contract slightly — each by less than half a percentage point. Natural increase, or the difference between births and deaths, was responsible for a gain of 114,805 people in 2024, but the state's population increased by only 108,000 overall. The difference is explained by net migration out of California of around 7,000 people. Over the past few years, California has recorded more people leaving for other states like Texas and Arizona than it gains from internal migration. International immigrants, who now mostly come from Asia, bolster the state's population against loss from those who leave for other states. On the housing front, the state's slow growth continued: Housing grew at 0.84% in 2024, a similar figure to 2023, which lagged many other states. One in five new homes built in 2024 within California were Accessory Dwelling Units, or ADUs. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Los Angeles Times
01-05-2025
- Business
- Los Angeles Times
California's big cities are slowly bouncing back, new population data show
California's population increased for the second consecutive year, with much of the growth coming to the state's biggest cities, according to new data from the California Department of Finance released Thursday. The latest numbers for calendar year 2024 confirm the end of the so-called California Exodus that saw the Golden State's population shrink for the first time in decades. Seven of the state's 10 largest cities recorded population growth as they bounced back from the pandemic-era shrinking, which hit hardest in most of the state's urban centers. By the end of 2024, the state's population nearly eclipsed its pre-pandemic peak, but was still around 9,000 people short of the previous high-water mark from April 2020, reflecting slow growth in the years since then. From April 2020 to January 2022, the state lost some 360,000 residents, according to data from the California Department of Finance. California added about 108,000 people in 2024 after adding nearly 200,000 in 2023. If growth continues, the state should eclipse its pre-pandemic population figure in 2025. 'People from across the nation and the globe are coming to the Golden State to pursue the California Dream, where rights are protected and people are respected,' Gov. Gavin Newsom said in a statement. 'As the fourth largest economy in the world — from the Inland Empire to the Bay Area — regions throughout California are growing, strengthening local communities and boosting our state's future.' 'We'll continue to cut tape, invest in people, and seek real results from government to ensure we build on this momentum — all of which are at risk with the extreme and uncertain tariffs,' Newsom said. The biggest population winners were Bakersfield, which grew by 1.2% in 2024, and San Diego, which grew by 1%. Los Angeles grew by 0.4%. In the Bay Area, San Jose and San Francisco saw their populations contract slightly — each by less than half a percentage point. Natural increase, or the difference between births and deaths, was responsible for a gain of 114,805 people in 2024, but the state's population increased by only 108,000 overall. The difference is explained by net migration out of California of around 7,000 people. Over the past few years, California has recorded more people leaving for other states like Texas and Arizona than it gains from internal migration. International immigrants, who now mostly come from Asia, bolster the state's population against loss from those who leave for other states. On the housing front, the state's slow growth continued: Housing grew at 0.84% in 2024, a similar figure to 2023, which lagged many other states. One in five new homes built in 2024 within California were Accessory Dwelling Units, or ADUs.
