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June 1, 2018 Comments Off on Quest for Affordable Housing Moves Populations Inland Views: 1278 Connect Classroom

Quest for Affordable Housing Moves Populations Inland

According to new census population estimates, Texas and Arizona gained more people than New York and Los Angeles for the first time since 2007. With the largest gain, San Antonio’s population rose by 24,200 between 2016 and 2017. Phoenix was right on its heels with an increase of 24,000 people.

People are moving inland because the coastal cities like New York and Los Angeles are proving to be difficult in terms of finding affordable housing. In the two major metros, people typically are spending close to 30% of their income on taxes and mortgages, whereas in San Antonio and Phoenix, it’s just about 22% on average. Between 2016 and 2017, New York’s population did slightly grow, but the city also saw 143,000 more people moving out than in.

Both companies and retirees are attracted to San Antonio for its below-average national and state housing prices. Additionally, smaller towns are seeing a rise in population. Cities with 20,000 to 30,000 residents have increased in size for the third straight year.

Cities with Largest Population Gains (2016-2017)

San Antonio – 24,208
Phoenix – 24,036
Dallas – 18,935
Fort Worth – 18,664
Los Angeles – 18,643

Read More at Huffington Post

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