Miami is known for its steep prices, but that doesn’t stop plenty of Americans from house hunting there. According to Redfin’s recent migration report, Miami ranked eighth out of the country’s biggest metros when it came to largest net inflow in Q2.
The study analyzed the online home search activity of more than one million Redfin users across 75 metros from April through June. According to the report, one particular trend seemed to continue from Q1 nationwide: migration from the largest, most expensive cities to various mid-tier cities.
Miami doesn’t exactly fall into the range of affordability for most Americans, but the area’s warm weather and active nightlife never fail to attract potential buyers from all over the country. The study discovered that exactly 22 percent of Redfin’s Miami home searches came from outside the area in Q2. These 1,861 Redfin users primarily came from New York City. In the Big Apple, a notable 34.6 percent of residents searched for homes outside of the area.
Rank | Metro | Net Inflow | Searches from Users Outside Metro | Top Origin |
Top Out-of-State Origin
|
8 | Miami, FL | 1,861 | 22.00% | New York, NY | New York, NY |
Source: Redfin