Growing number of people leaving big cities for midsize markets
Big-city living appears to be losing its luster for many money conscious homeowners. Census Bureau figures show the high cost of housing is driving people out of Boston, San Francisco and other big cities for more affordable midsize markets in the South and West.
Census says the Phoenix suburb of Gilbert grew the fastest. Over the last four years, 46-thousand people relocated there, bringing the number of residents to 156-thousand.
Housing prices appear to be the main reason. The median price for a home in Gilbert is 220-thousand-dollars, compared with 387-thousand in Boston and 641-thousand in San Francisco.