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San Francisco, Amid Big Tech s Battles With City, Lost More Residents Than Anywhere Else in US
On 4/12/21 at 3:30 PM EDT
Almost every major metro area in the U.S. saw an exodus of residents in 2020, but none more so than notoriously expensive San Francisco, a new study found.
The most expensive city in the U.S. saw at least twice as many residents leave for other locations last year as it did in 2019, about 18 per 1,000 people. CBRE Group, a commercial realty firm, conducted its migration analysis based on U.S. Postal Service data.
Much of the outbound residents were young, affluent workers, Eric Willet, CBRE s director of research in Los Angeles, told
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S.F. loses status as most expensive U.S. office market, dropping below Manhattan after five years on top
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A single car drives west on the San Francisco Oakland Bay Bridge on April 01, 2020 in San Francisco, California. The city has dropped to second-most expensive U.S. office market after five years on top.Justin Sullivan / Getty ImagesShow MoreShow Less
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The Manhattan skyline is seen at sunrise from the 86th floor observatory of the Empire State Building on April 3, 2021.ANGELA WEISS / AFP via Getty ImagesShow MoreShow Less
San Francisco has lost its status as the country’s most expensive office rental market, with asking rents falling below Manhattan for the first time in five years.
SF No Longer the Top City for Tech Industry Office Space Leasing, Knocked Down Several Notches
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