Out-of-Towners Moving Into Nashville, Atlanta and Austin Have More Than 30% Bigger Homebuying Budgets Than Locals

Not the best way to make friends with your new neighbors.

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The average housing budget for out-of-towners moving to Nashville in 2020 was $719,500, 48% higher than the $485,500 average budget for local buyers.

Next come Atlanta, where out-of-towners had an average budget of $698,000, 33% higher than the local budget, and Austin, where the average out-of-towner had an $852,500 budget, 32% higher than locals. Out-of-towners have higher budgets than locals in all but three of the 34 cities included in this analysis.

“My nickname for Austin is Texa-fornia because so many people are moving in from California,” said Sabrina Archolecas, senior asset manager for the Texas branch of RedfinNow, Redfin’s iBuying business. “Buyers’ agents are taking lawn chairs to showings because lines to get into properties are so long. People moving in from other parts of the country are making the market incredibly competitive and driving up prices like agents have never seen. One recent four-bedroom, 3,200-square-foot listing in Austin had 16 offers in one weekend; the list price was $575,000 and it sold for $638,000.”

I like the sound of Texa-fornia.


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The Bay Area is the only place where locals have higher budgets than out-of-towners

Locals had higher budgets than migrants in just three of the 34 cities included in this analysis: San Francisco, San Jose and Fremont, CA (a city in the Oakland metro), all cities where migrants and locals alike have homebuying budgets well over $1 million. The average budget for a local in San Francisco was $1.76 million in 2020, 4.1% higher than the $1.69 million average budget for out-of-towners.


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It’s ok until they Californicate it

What’s the point if you don’t…

Looks like people are moving to some of the most unhealthy fattest states. My guess is because it is so hot and humid people stay indoors watching TV and eating too much. In Texas 33% are obese… near the worst in the country. Notice the fattest are in the poorest states. Alabama Mississippi West Virginia Arkansas. The national fake news media talks about the epidemic of food insecurity. The reality is people have too much food not a shortage.


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