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San Francisco residents are fleeing to Texas and Florida at record levels: Study

Washington Examiner logo Washington Examiner 6 days ago Andrew Mark Miller
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The number of San Francisco residents packing up and moving to Texas and Florida has hit a record high.

San Francisco lost the most residents out of any major U.S. city between 2019 and 2020, according to data compiled by the commercial realty firm CBRE Group. The number of people who moved to Texas from San Francisco increased by 32.1%, while those who moved to Florida increased by 46.2%, according to Business Insider.

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San Francisco lost roughly 18 residents per 1,000 people in 2020, compared to nine per 1,000 people the prior year.

"Many of the most ambitious people on the planet have lived here," investor Keith Rabois, who recently moved from California to Florida, said. "But post-COVID, I think the concentration of talent has atrophied, perhaps permanently."

The majority of people who left the city stayed in California and moved to the capital city of Sacramento. Moves from San Francisco to Sacramento increased by 70%, according to data that was gathered from USPS records through a Freedom of Information Act request.

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"The pandemic came just as the bulk of the large and increasingly affluent millennial cohort had reached prime family formation age," the report explains. "Consequently, millennials had been trending toward more suburban residencies even before COVID-19 came on the scene."

Last year, it was reported that coronavirus lockdowns and high taxes created such a significant exodus from the state that California could lose a House seat and an electoral vote for the first time as a result of the population decrease.

Tags: News, San Francisco, California, Florida, Texas, Coronavirus

Original Author: Andrew Mark Miller

Original Location: San Francisco residents are fleeing to Texas and Florida at record levels: Study

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