UNLV research: fewer Californians moving to Las Vegas and Nevada
UNLV research shows a decline from the pandemic surge of Californians moving to Nevada.
FOX5 told you how UNLV researchers have been tracking migration trends for years, using the number of driver’s license surrenders as a metric to measure relocations.
From 2020 to 2021, record numbers of people moved from California to Nevada and Las Vegas. From 2022 to 2023, researchers noticed a decline and a further drop last year.
Professor Stephen Miller tells FOX5 that the trend is mainly tied to interest rates. Though housing is far more affordable in Las Vegas than Los Angeles, many people have either reconsidered their move or are holding off until interest rates drop once again.
“A lot of people have a low mortgage interest rate loan. So their monthly payment is pretty low. They couldn’t match that in the current market,” Miller said.
Researchers also found that fewer “work from home” opportunities limit the options for relocation. Cities such as Austin have also noticed a considerable decline.