California may be called the Golden State, but residents who flee end up with much more green in their pockets.
A report released last month by the California Policy Lab concluded that Californians who leave the state often end up in more affordable communities and are able to build wealth more easily.
When residents move, they save an average of $672 per month on housing expenses alone — such as rent or mortgage, utilities, property taxes, and insurance.
The medium home price for them is $398,000 lower — marking 48 percent cost savings relative to the California communities they leave.
As a result, they are more likely to realize a key part of the American Dream by becoming homeowners.
NEWS: We’re releasing new research today on who is leaving California, where they go, and what happens to their finances after they move. https://t.co/evF2T8Zupl 🧵(1/9) pic.twitter.com/MiVsmDvqT4
— California Policy Lab
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