New York City had the largest share of newcomers from outside the U.S.
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Every year, millions of Americans pull up stakes and and move to new cities and states. While some people might move in pursuit of economic opportunity or a better quality of life, most population shifts are related to the desire for a housing upgrade.
To find where people are on the move, NerdWallet looked at migration patterns among the largest metro areas in the U.S. The personal finance site tracked where people are coming from and moving to, and how much they’re paying to live in their new homes.
“There are a lot of factors to consider when trying to understand why people move to a new city, and why some from abroad look to make the United States their new home,” says NerdWallet home expert Holden Lewis. “While some of those reasons might seem obvious, like lower cost of living or relocation for a new job, some factors may be less tied to finances, like wanting to live closer to family or in a more culturally diverse city.”
More than one-third (35%) of people who had recently moved said they wanted a larger or better quality home, according to the 2017 American Housing Survey by the Census Bureau. Eighteen percent of recent movers said they left their former residence to reduce housing costs.
“Such upgrades don’t typically require big moves,” NerdWallet reports. “Heading down the street or into another neighborhood is often enough. But some may seek more dramatic changes and move to another state.”
On average, just 3% of the population moved out of the largest 25 metros each year from 2012-2016, according to Census migration data. “It may not seem like a considerable amount, but in large cities, a small percentage of the population can equate to big numbers,” says Lewis.
Here are the top 10 metro areas that attract newcomers and how much they pay for housing in a new city. The Chicago and New York City metro areas lost more people to migration than they gained. New York City (40%) and Miami (37%) metro areas had the largest share of newcomers from outside the U.S.
1. New York City
The New York City metro area, the most populous in the country, had the most newcomers (413,000) and the most people moving away (433,900).
Average monthly homeowner cost: $2,630
2. Los Angeles-Long Beach-Anaheim
357,586 newcomers
Residents moving away: 347,974
Average monthly homeowner cost: $2,471
3. Washington, D.C.-Arlington-Alexandria
293,215 newcomers
Residents moving away: 230,363
Average monthly homeowner cost: $2,293
4. Dallas-Fort Worth-Arlington
280,492 newcomers
Residents moving away: 167,232
Average monthly homeowner cost: $1,651
5. Houston-The Woodlands-Sugar Land
269,984 newcomers
Residents moving away: 141,440
Average monthly homeowner cost: $1,649
6. Atlanta-Sandy Springs-Roswell
240,422 newcomers
Residents moving away: 158,557
Average monthly homeowner cost: $1,460
7. Chicago-Naperville-Elgin
234,436 newcomers
Residents moving away: 238,940
Average monthly homeowner cost: $1,789
8. Miami-Fort Lauderdale-West Palm Beach
232,137 newcomers
Residents moving away: 152,875
Average monthly homeowner cost: $1,737
9. San Francisco-Oakland-Hayward
220,505 newcomers
Residents moving away: 166,641
Average monthly homeowner costs: $2,985
10. Phoenix-Mesa-Scottsdale
219,938 newcomers
Residents moving away: 130,996
Average monthly homeowner costs: $1,445