The 10 Real Estate Markets Seeing MASSIVE Migration in 2023

The real estate markets that have the highest populations tend to have the highest housing prices. Think of cities like New York, Los Angeles, San Francisco, and Seattle. Just a few years ago, these bustling metros were packed to the brim with tech workers, all of which contributed to housing shortages and sky-high home prices. Now, with remote work the new norm, these big cities are seeing their populations slowly start to siphon out to more affordable housing markets in America.

As an investor, you may ask yourself, “where are the most people (and money) headed?” In this episode, Dave Meyer and David Greene will answer this exact question. But, it isn’t as easy as solely looking at population growth. Dave and David go deep into the data to see where businesses, tech jobs, and high salaries are moving so you can make the best bet for future equity plays. And even though it seems like Miami, Austin, and other booming markets have already priced out most investors, recent price drops could be a short-term loss that leads to your long-term gain.

But even if you know where Americans are migrating, you’ll still need to know the “why” so you can find future markets fitting these criteria. Dave and David touch on how work from home changed the housing market, why the pandemic split the nation into affordable and unaffordable housing markets, and how something as simple as a warm day could heavily impact where the best investing opportunity is. So stick around if you’re planning on buying, investing, selling, or moving in 2023!

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Migration, Inflation, and Why Big Cities Are Losing Their “Desirable” Status:

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Episode 729

Show notes at:

#biggerpockets #realestatepodcast #biggerpockets729

00:00 Intro
01:13 Quick Tip
03:27 The Great Reshuffling
09:58 Why Are Americans Moving?
20:56 Winning and Losing Housing Markets
24:09 Where Businesses Are Moving
34:14 Sun Belt Cities Primed for Growth
39:09 What to Look for in a Real Estate Market
44:14 Connect with Dave!

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52 thoughts on “The 10 Real Estate Markets Seeing MASSIVE Migration in 2023

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  1. Going to FL and TX, also NC, SC, TN, GA 😥
    I continue to regret not buying in early 2021 when I first got ready to. Please go home y’all. We’ve already got enough people in the South.

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  2. Texas is a great market. I have lived here my whole life. It is also a very competitive market to buy properties. Everyone is buying multi family properties here so they are expensive and if you find something, you better move fast or it will be gone. No buyer’s market here yet.

  3. It does not appear that the migration out CA and NY is going to stop anytime soon. These people are landing in just a few states and cities for the most part. We’re pretty bullish on coastal apartments in Florida, mainly southern Florida where we already have a small presence. Throw in attractive landlord laws, we’re excited about what Florida has to offer over the next few years, high rates or not.

    1. @Christobar  whatever keeps our investors happy. Our current 16 unit we bought last April is a flip. We went into it knowing we’d flip.

  4. Thanks for covering the types of jobs moving in to or out of a state. Could you cover all the different types of ways a state with no personal income tax makes up for that revenue?

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  5. One long term issue I didn’t hear either of you mention is climate change…I know you are looking at recent data but not a dynamic to be ignored

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  6. I don’t mean to sound cruel but most of this information is old news but I appreciate the effort. Also, if you were told it doesn’t get cold in Texas, it’s a lie. There has been 2 winter storms in the last 2 years, apt pipes bursting and extended periods of power outage due to the crazy weather. All I’m saying is, do your due diligence before you move anywhere

  7. Yea, Atlanta is definitely going crazy with Tech businesses moving in. People are definitely following the jobs (even though remote work is more of an option). You can’t look up without seeing a giant crane! And with the beltline coming in it’s a pretty incredible thing to watch in real time!

    1. Atlanta is definitely growing. Unfortunately crime is very bad in Atlanta. Metal detectors in malls going up/down the escalator, because of
      Mall shootings. Cars being broken into constantly. People getting robber on the beltline. Traffic on par with Los Angeles.

    2. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  8. It’s simple, only move if the pros significantly outweigh the cons. Fact is, companies will move due to the tax breaks but not necessarily the talent pool. For ex: California companies move to Texas and low balling local talents; so not all that glitters is gold

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  9. All these stories of normal people getting rich from RE is mostly from 2010s post recession. Those days are over.

    1. Bingo! I’m luckily to be one of those guys. RE is a very rich person game now. Bigger pockets is a shadow of its previous self because “little guy RE investors” is over. If I was new investor starting from scratch I would risk buying a business.

    2. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ•••

  10. There’s no slowing down here in Florida! For duplex home in the market is at least 7 buyers waiting wiling to over pay!
    New home still selling no matter the interest rate when up! All builder are pulling offers down!!! They don’t need them 🔥🥴

  11. Do I really have to invest out of state? I would prefer to look or touch at the property whenever I want to invest in it.

    1. I agree. We just moved to a different city, put our house up for rent. Few weeks later, it was broken into (criminals monitor the Zillow market). They broke a lock and entered the house in the middle of the day, opened the garage and parked a stolen truck in a driveway getting ready to load up the appliances. Neighbors scared the burglars off but the house was already vandalized (like they stole burners, handles from the appliances, which they put in a kitchen drawer and took with them). Property management was inactive, waisted our time, charged fees, and did nothing. Had to fire property management. We can’t even imagine what we would be doing if we didn’t have such nice neighbors. They keep an eye on the house while it is vacant and off market for repairs. They constantly meet with insurance company appraisers, open door to handymen, turn off the lights after the realtors show the property but don’t want to come back to turn off the lights when they forget to do it. They even send us mail and packages which don’t get forwarded. Oh and they deal with litigation cause they were the ones to call the police and now they can’t refuse to go to court as witnesses otherwise they would go to jail themselves. No witness protection against those criminals either. Overall, it has been such a nightmare and we can’t wait to get rid of that house even though we are tempted to keep it because of 2.75% apr loan.

    2. @Anna0630 wtf???? well where is that house? im not even in a rich area and last time i left my garage open all day and left to work and nothing happened.

  12. It’s interesting to see which real estate markets are experiencing a surge in migration in 2023. It can be helpful information for those looking to invest or relocate.

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ •••

  13. Really surprised BP is jumping on the Austin bandwagon when the city is woke and likely to impose its own anti-landlord initiatives, plus lots of investor competition. DFW is just north, has massive growth and is moderate politically. I guess I’m happy there’s no attention being brought: more deals for me!!

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ •••

    2. Still lots of competition here in DFW. Fun fact, there are currently no 2-4 unit properties available in Frisco, Plano, Richardson or Allen and there is only one in McKinney.

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ •••

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ •••

  14. I was wondering why Northwest Arkansas never comes up as an emerging market. There’s lots of tech and the university is training more. Lots going on there. Would love to know your opinion. It’s under the radar right now

    1. ɪ ʀᴇᴀʟʟʏ ᴀᴘᴘʀᴇᴄɪᴀᴛᴇ ʏᴏᴜʀ ᴄᴏᴍᴍᴇɴᴛ’s
      ᴡʀɪᴛᴇ ᴍᴇ ᴜᴘ, ɪ ɢᴏᴛ sᴏᴍᴇ ᴛʀᴀᴅɪɴɢ ᴛɪᴘs ᴛᴏ ᴏғғᴇʀ •••

  15. This put me to sleep! I woke up and asked google instead. Podcasts always take 500 hours to give you 30sec of information 😴😴😴😴😴😴

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