Interactive: Will Housing Costs Drive Californians Away?
Home values and rental markets in California are among the most expensive in the nation, and supply shortages continue to put upward pressure on housing prices. Over the last decade, the state averaged fewer than 80,000 new homes annually—far below the estimated need of 180,000 additional units each year, according to a recent report from the California Department of Housing and Community Development.
In our March survey, we found that a record-high share of Californians (68%) believe that housing affordability is a big problem in their region, and 47% are seriously considering moving away from the part of the state they live in now due to housing costs.
The interactive below allows you to take a closer look at how interest in moving due to housing costs varies across demographic groups. For example, Los Angeles County residents (39%) are the most likely to say housing costs have made them seriously consider moving out of the state, with another 13% saying they’re considering moving elsewhere in California. Overall, half of coastal residents say they’re seriously thinking about moving away from where they live now.
Young adults are also much more likely to have considered moving than older residents. More than half (56%) of young adults age 18–34 have seriously thought about moving due to housing costs—including four in ten who have considered leaving the state—compared to 38% of adults over 55.
We hope this interactive sheds light on Californians’ perceptions of housing costs. As the new governor and state legislature work on their policy agendas for the year, the PPIC survey team will continue to monitor the issue of housing closely.