San Francisco Residents Fleeing at an Unprecedented Rate
MoveBuddha.com, a moving company booking website, just released new data from their online Moving Cost Calculator. Out of roughly 1,200 moving searches involving the San Francisco-Bay Area, almost 90% have been for move requests of people looking to leave the region. Among Bay Area residents, Los Angeles and Austin were the two most popular destinations.
Ryan Carrigan, co-founder and CEO of moveBuddha.com, said, “To put this into perspective, during the same period last year, only 57% of relocation searches involving the San Francisco-Bay Area were outbound. This year, 90% are outbound. There is almost no one looking to move into the city and a lot of people looking to leave.”
Carrigan continued, “the slow down in VC funding, as well as massive layoffs at startups and tech companies, are likely the primary factors driving this sharp shift in net migration patterns.”
The report looked at search data for all relocation requests involving the San Francisco-Bay Area (Alameda, Contra Costa, Marin, Napa, San Mateo, Santa Clara, Solano, Sonoma, and San Francisco counties). The past 6 weeks of search data were compared to the same period of time last year. The data is based on website users’ searches, not actual moves taking place at this time.