2021 Agent Rankings Now Live!

RealTrends + Tom Ferry announce the 16th annual The Thousand list of America’s top 1,000 real estate sales professionals and teams.

Market Leaders

Ranking the top residential real estate firms in over 160 different metropolitan markets.

Florida Realtors® leaders advocate for affordable housing

It sounds simple: housing trust funds should be used for affordable housing. Florida Realtors wants a constitutional amendment securing this.

Newsletter

The RealTrends BrokerSource and HousingWire OpenHouse newsletters deliver twice weekly information on trends, strategies, analysis, people, and news shaping the real estate industry.

Families With a Newborn Moved to Cheaper Housing Markets

Women Who Had a Baby In the Past Year Are More Likely to Have Moved Than Those Who Didn’t

Americans who moved in the past year tended to move into less-expensive housing markets, a trend that is magnified when looking at women with a newborn baby ­– and can mean a difference of more than $100,000 in some markets.

Across the country, women with a newborn who moved in the past year – whether or not they moved with a partner other family members – moved to a housing market where homes cost $11,500 less than where they moved from, according to a new Zillow® analysis of home value and Census datai.  

Housing and childcare costs are two of the most expensive things to budget for, with childcare adding thousands of dollars a year to a family’s expenses. The cost of childcare was the most commonly cited reason young adults are having fewer children, according to a recent New York Times surveyii.

And while mortgage payments nationally are still relatively affordable compared with historic norms, in some major markets mortgages are less affordable than they were historically, with others nearing that tipping point. It isn’t a surprise that families might look to save money on housing when they have a new child. Parents with a new baby may also move to be closer to family, find a bigger home, or settle in their preferred school district.

“Having a baby dramatically changes your life and can radically change your idea of the ideal home. Maybe you need more space both indoors or out, maybe you need to save somewhere, anywhere, to make up for the additional cost of childcare. Our analysis shows that whatever the motivation, many families are making parenthood financially easier by moving to more affordable markets,” said Skylar Olsen, Zillow’s director of economic research and outreach. “Moving can be a stressful process, especially for new parents, but the benefits of their new home – financial or otherwise – may well outweigh that stress.”

In 26 of the 35 largest U.S. metro areas, women with newborns who moved ended up in a cheaper housing market. While the same was true for similar households in 22 of the biggest metros, the post-move savings were greater for those with newborns ($11,500) than those without ($9,000).

Los Angeles-based women who recently moved with a newborn settled in places where median home values are $165,800 lower than where they came from, the biggest decline in housing costs between their new and old communities. Women in Seattle with a newborn saw the biggest jump to higher home values after they moved, with the median home worth $34,300 more in their new location.

The biggest difference in housing costs between those moving with or without a newborn baby is in San Francisco. Women with newborns moved to places where home values are $129,000 lower than where they came from, while those who moved without a new child ended up in more expensive areas, with home values $150,700 higher.

Median Change in Home Values After Moving  

Metropolitan Areaiii

With New Baby

Without New Baby

Differenceiv

United States

-$11,500

-$9,100

-$2,500

New York, NY

-$13,300

$12,300

-$25,700

Los Angeles-Long Beach-Anaheim, CA

-$165,800

-$40,300

-$125,500

Chicago, IL

-$32,000

-$6,300

-$25,700

Dallas-Fort Worth, TX

-$14,400

-$6,800

-$7,600

Philadelphia, PA

-$29,300

-$12,400

-$16,800

Houston, TX

-$12,900

-$5,600

-$7,300

Washington, DC

$5,400

$7,100

-$1,700

Miami-Fort Lauderdale, FL

-$48,200

-$37,900

-$10,300

Atlanta, GA

-$10,200

-$10,200

$0

Boston, MA

$23,700

$23,700

$0

San Francisco, CA

-$129,000

$150,700

-$279,800

Detroit, MI

-$28,000

-$9,100

-$18,900

Riverside, CA

-$37,600

-$37,600

$0

Phoenix, AZ

-$47,200

-$40,700

-$6,500

Seattle, WA

$34,300

$33,400

$900

Minneapolis-St Paul, MN

-$23,400

$12,800

-$36,200

San Diego, CA

-$55,800

-$55,800

$0

St. Louis, MO

-$8,500

$2,300

-$10,800

Tampa, FL

$10,800

-$10,400

$21,200

Baltimore, MD

$100

$100

$0

Denver, CO

-$16,400

-$16,400

$0

Pittsburgh, PA

-$20,700

$4,600

-$25,300

Portland, OR

-$37,600

$0

-$37,500

Charlotte, NC

$800

-$9,900

$10,700

Sacramento, CA

-$70,500

-$20,900

-$49,600

San Antonio, TX

-$12,900

-$8,600

-$4,300

Orlando, FL

-$28,800

-$2,400

-$26,400

Cincinnati, OH

$900

-$3,200

$4,100

Cleveland, OH

-$35,400

-$35,400

$0

Kansas City, MO

$10,100

$4,600

$5,500

Las Vegas, NV

-$48,100

-$23,100

-$25,000

Columbus, OH

-$9,000

$4,400

-$13,400

Indianapolis, IN

$6,900

-$10,100

$17,000

San Jose, CA

-$138,100

-$32,900

-$105,200

Austin, TX

-$6,600

$19,100

-$25,700

Zillow

Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow Group’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research.

Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.

Most Popular Articles

Crypto real estate isn’t just for millionaires

The reality is that buying or selling a home with cryptocurrency is becoming more frequent than most people — and real estate agents — realize. 

Jul 27, 2021 By

Latest Articles

New England Real Estate Network MLS adds shareholder

As a shareholder, Greater Newburyport Realtors gains inclusion in an MLS accepting listings throughout New England. They have representation in NEREN’s governance and are eligible to be included in various leadership and committee positions. Board members provide leadership to the MLS and its 12,000 plus system users. 

Jul 30, 2021 By