Poll Says Bay Area Housing Crisis Motivating Residents to Consider Leaving
The spike in Bay Area housing costs is motivating more than half of locals to consider moving to a less costly region. The urge to leave is highest among millennials, according to a recent poll from the Berkeley Institute of Governmental Studies.
Poll results show that 65 percent of registered voters in the Bay Area describe the housing crisis as an “extremely serious” problem. Real estate costs have been on the rise for years. In July, the median price of a single-family home in the Bay Area was $804,000, more than 10 percent higher than a year prior. From neighborhoods in San Francisco to communities in San Jose, home prices across the region have hit highs in recent years.
The poll sampled 1,200 Californians between late August through early September.
According to a Mercury News report, the poll also showed that 51 percent of Bay Area locals have considered moving away from the region, and 56 percent of all California residents have thought about relocating.
When broken down by age ranges, it seems like younger people are considering moves more strongly. Sixty-five percent of those 18-29 have considered a move out of the state while only 38 percent of those 65 or older have considered the same. Almost 70 percent of those between 30 and 39 have considered leaving their region, either for another in California or out of state.