According to a recent survey by Strategies 360, 70% of Californians are satisfied with their state of residence, yet 40% are thinking about leaving.
The study, conducted by Fieldwork and released in conjunction with the Los Angeles Times and a group of organizations, found that people’ worries about money were a major factor in their consideration of relocation.
“Even if folks make the same income as they did even just three years ago, their sense of financial security has fallen dramatically,” Ben Winston, a political consultant for Strategies 360, told the Times.
Only 28% of households in this income range report being able to save comfortably for the future, while 17% report having trouble paying their monthly expenditures, which is double the percentage from only a few years ago.
Those with incomes over $100,000 aren’t immune to the effects of inflation and rising prices: Just 57% of people from high-earning households now say they feel financially comfortable, down from 77% in 2020.
According to RentCafe, California has a cost of living that is 39% more than the U.S. average, while housing expenditures are double the national average.
The study also showed that the deep blue state has felt the effects of political divisiveness, with 32% of conservatives seriously considering migrating and 27% considering leaving California.
Forty-seven percent of liberals say they have never considered leaving, compared with just 15% of conservatives.
Lawmakers are hopeful that an increase in housing inventory could help alleviate the state’s affordability crisis. More than 120,000 housing units were added last year — the most since the Great Recession — to help attract new residents after three back-to-back years of population decline.
