Las Vegas Suburbs Experience Rapid Growth As Californians Continue to Leave the State

The Wall Street Journal recently published a very complete report on California’s population exodus and growth in Las Vegas area.

General cost of living, increase in traffic, and home affordability are among the key reasons for these trends.

Some highlights on California Migration:

  • Net migration from California to to other parts of the U.S. was more than 100,000 in 2015, 2016 and 2017, according to the Census Bureau.
  • Emigration from California to other states between 2006 and 2017 was 1.24 million, according to the Census Bureau.
  • California has experienced the third highest exodus in the nation between 2006 and 2017 behind only New York and Illinois.
  • California loses more residents than it gains, yet its population of about 40 million grows from births and foreign immigration.
  • California has some of the highest utility bills and taxes in the country.
  • California’s median home price went up 83% between 2012 and 2018 according to Zillow
  • Buying a house in California is unaffordable to about 72% of the state’s population, according to an index by the California Association of Realtors (single-family, median-priced home).
  • Ex-Californians have flocked to neighboring states: Nevada, Idaho, Utah and Arizona, which are experiencing the fastest growing rates in the country.

Meanwhile… in Nevada:

  • Henderson is soon taking over Reno as the second most populous city in Nevada.
  • Henderson’s population surged 20% in the last decade to more than 300,000.
  • 56% of new arrivals in Henderson between 2013 and 2017 were from California, according to Nevada Department of Motor Vehicles data.
  • Home sales in Henderson’s master-planned communities have been dominated by migrants from the West.
  • In some neighborhoods like MacDonald Highlands overlooking Las Vegas, Californians accounted for nearly 70% of purchases in 2018, compared with 30% 20 years ago.

Source: WSJ https://www.wsj.com/articles/as-california-loses-people-a-las-vegas-suburb-grows-11551197094?mod=e2fb&fbclid=IwAR3bGHJpn7gpBEPk-NdqwFmCiqijsWLRQ70NpvkpUUN6aNbaUaRh0v9SyCw

 

 

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