SAN FRANCISCO (KRON) — More residents of the San Francisco metro area are looking to move away to some place more affordable than any other metro are in the country, according to a report. The report, from real estate brokerage Redfin, states that 24% of San Francisco residents are looking to move elsewhere.

According to Redfin, the interest in leaving the City by the Bay is part of a broader trend toward home buyers leaving expensive West Coast and East Coast cities in favor of more affordable destinations. Sun Belt destinations like Las Vegas and the Florida coast are especially popular among those wanting to escape expensive coastal enclaves, Redfin says.

The top in-state destination for those looking to leave San Francisco is Sacramento, Redfin says. The top out-of-state destination is Seattle. After San Francisco, Los Angeles and New York City are the second and third top metros people are looking to leave. Washington D.C. and Boston rounded out the top five in terms of places people want to leave.

KRON On is streaming live news now

As far as most preferred destination, Sacramento tops the list of metro areas homebuyers are interested in relocating to, following by Las Vegas, Miami, San Diego and Tampa. The chief driver toward Sun Belt destinations is more affordable home prices with a typical home in Las Vegas costing $410,000 last month, roughly half the $823,000 asking price for a typical home in Los Angeles.

Methodology

Redfin explains it based its migration analysis on two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas between August and October of 2022.