Record Number Of Denver Residents Moving To This City

Many residents are leaving Denver and out of state for a different city, according to a recent study by Redfin. Researchers found that Americans are prioritizing affordability when looking for a new place to live.

Data revealed that people moving out of the Mile High City are heading to Chicago the most. The website states, "Homebuyers typically look to leave expensive coastal job centers," citing rising inflation and higher interest rates pushing people to seek more affordable locations. This is how researchers compiled their data to find out where Americans are moving:

"To measure the share of homebuyers looking to relocate from one metro to another, we calculate the portion of overall home searchers that are migrants. A Redfin.com user counts as a migrant if they viewed at least 10 for-sale homes in the third quarter and at least one of those homes was outside their home metro area. For instance, if a Redfin.com user based in Seattle views 10 homes in a three-month period and all of them are in Phoenix, that user counts as a full migrant to Phoenix. If a user based in Seattle views 10 homes in a three-month period and five are in Phoenix but five are in San Diego, that user counts as half of a migrant to Phoenix and half of a migrant to San Diego."

Here are the Top 10 metro cities homebuyers are leaving, according to the study:

1. San Francisco, California
2. Los Angeles, California
3. New York, New York
4. Washington, D.C.
5. Boston, Massachusetts
6. Chicago, Illinois
7. Detroit, Michigan
8. Denver, Colorado
9. Seattle, Washington
10. Minneapolis, Minnesota

Check out the full research on Redfin's website.