Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

By:
Published: Jul 27, 2021 4 min read
People wait outside in a line to visit a open house in the suburbs
Getty Images

It's always tempting to fantasize about packing your bags, picking a spot on the map and starting over in a new city.

But in 2021, that daydream requires deep pockets: A recent Redfin report shows that people who move from out of town into hot cities tend to pay more for their houses than locals do.

Redfin crunched the numbers on 10 popular migration destinations, or locations that had the highest net inflow of people moving in during the second quarter, plus trendy Boise, Idaho. Of them, outsiders relocating to Austin, Texas, paid the highest premium over asking price. Typical out-of-towners there forked over 7.8% above asking price, while their local counterparts paid just 3.7% over.