84% of moves in the top 50 metro areas during the pandemic were within the metro area. This is more of a reshuffling than a great migration as most moves are in 100 miles of their origin. Only 6% moved to another top metro area.
Read More Americans Are Leaving Cities, But Don’t Call It an Urban Exodus.
Links to this note
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Permanent Moves from SF Have Fallen to Pre-Pandemic Levels
Much has been written about a great migration out of San Francisco. The population shrank by 1.4% between July 2019 to July 2020, but like most moves during the COVID-19 pandemic, they were within the same metro area. As the economy recovers, San Francisco and San Mateo counties added 17,200 jobs.
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Remote Work Is Not Necessarily Better for the Environment
While not having to commute is equivalent pay raise, it’s not necessarily better for the environment.
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§ What Is the Market Value of Working Remote?
We can come up with a valuation of remote work by looking at a few signals: what you would forgo, what do you gain, what others gain, and what others lose.
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Permanent Moves from SF Increased 23%
While the percentage of permanent moves from major metro areas increased an average 3%, permanent moves from San Francisco increased 23%. This is the highest increase in permanent moves nationally. Even when looking at temporary moves, the rate doubled for San Francisco while nationally it increased 17%.