Meet the Top 10 real estate markets in the United States

Every year, millions of Americans move to new cities and states. While some do it for economic reasons, most changes include better ownership and lifestyle.

NerdWallet, a personal finance app, did a recent study of which cities are the busiest, looking at common migration patterns in large cities in the United States. The site studied “from” and “where” people are moving, and how much they pay for their new residence.

“There are a lot of factors to consider when trying to understand why people move to another city, and why so many foreigners are looking to make this country their new home,” said Holden Lewis, home expert at NerdWallet. “While some of those reasons may seem obvious, such as a lower cost of living or relocating for a new job, some factors may be less tied to finances, such as wanting to live closer to family or in a more culturally diverse city.”

More than one-third (35%) of people who recently moved said they wanted a bigger or better quality home, according to the 2017 American Housing Survey conducted by the Census Bureau. Eighteen percent of those who recently moved said they left their old residences to reduce housing costs.

“These upgrades don’t usually require major moves,” reports NerdWallet. “Going to the street or another neighborhood is often enough. But some may seek more dramatic changes and move to another state.”

On average, only 3% of the population moved out of the largest 25 square meters each year from 2012 to 2016, according to Census migration data. “It may not seem like a considerable amount, but in big cities, a small percentage of the population can equate to large numbers,” Lewis says.

Here are the top 10 metropolitan areas that attract newcomers and how much they pay for housing in a new city. The Chicago and New York metropolitan areas lost more people to migration than they gained. The New York (40%) and Miami (37%) metropolitan areas had the highest proportion of newcomers from outside the United States

1. New York City

The New York City metropolitan area, the most populous in the country, had the most newcomers (413,000) and the most removers (433,900). Average monthly cost of ownership: $2,630.

2. Los Angeles-Long Beach-Anaheim