West Coast Population Declines as High Housing Costs Drive Migration

For the first time since the 1940s, the West's share of the U.S. population is falling, with many seeking more affordable living in the South and Southwest.

• The West's share of the U.S. population is declining for the first time since World War II, with significant out-migration to the South and Southwest.
• High housing costs in cities like San Francisco and Los Angeles are a major factor driving this migration, as people seek more affordable living options.
• San Francisco and Los Angeles experienced the largest population losses, while cities like Austin and San Antonio saw significant increases.
• A notable trend is the migration of high-income, single-person households from the West to the South, suggesting a search for better cost of living.
• Bank of America predicts that this migration trend may lead to an adjustment in housing costs across regions, potentially making West Coast cities more affordable in the long run.

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