New data compiled by realtor.com proves up what many people feel anecdotally: A lot of Californians are moving to Idaho.
Ada County, Idaho is the number four destination for California residents – behind only the counties surrounding Phoenix, AZ, Las Vegas, NV and Prescott, NV.
The median home price in the Golden State has zoomed 83% in the past six years, and is more acute in popular areas like the East Bay – home to big Silicon Valley employers like Facebook, Google and Apple.
In California hot spots, searchers looking to move away are twice as common as the U.S. average. The data mixes searches on realtor.com with the American Community Survey.
“Our research shows many California residents may have reached their breaking point,” said Danielle Hale, chief economist for realtor.com, in a statement. “Affordability is pricing them out of the California home market, and many are searching for more affordable options in other areas.”
The San Jose Mercury News points out that the housing market in Idaho is a key factor. People moving to Boise from the East Bay find “homes are $750,000 to $965,000 less than the typical property in Santa Clara (the county surrounding Palo Alto and San Jose).”
The report says Idaho is the fourth most popular destination for Santa Clara County residents, the third most popular spot for exiting Los Angeles County homeowners and the number two hot spot for Napa County residents moving away.
In the past year, the average value of a home in Ada County has increased 12.5% to $365,000, while in Canyon County the average price popped 15% to $263,608.
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