Many Americans move to find cheaper housing

June 13th, 2014

As affordability continues to be an issue for the housing market, many Americans are moving to find cheaper homes or apartments.

Recent data from the U.S. Census Bureau found that many Americans moved to find more affordable housing in 2013.

According to the Reason for Moving: 2012 to 2013 report, which examined the reasons people moved in 2013, 8.3 percent of Americans who relocated in that year sought cheaper rent or mortgage payments. This is an increase from 6 percent in 1999.

The data looked at 19 total reasons for moving, and these causes were grouped into four broader dimensions for further analysis. Housing-related motivations were the most common reason, as 48 percent of Americans moved in 2013 for a cause stemming from housing. Family-related reasons (30 percent) came in at No. 2 and were followed by job-related (19 percent) and other causes (2 percent).

Concerns about affordability are not surprising, as a recent study by the John D. and Catherine T. MacArthur Foundation found most Americans cannot afford their homes. Many are making sacrifices to cover their rent or mortgage bills, both in regard to daily luxuries and homebuying options.