Bay Area residents more likely to own homes after leaving region, new study finds

Many Bay Area residents who leave the region are finding a more affordable path to homeownership, but often at the cost of lower incomes, lower-performing schools and greater climate risk, according to a new report released Thursday by a University of California research institute.

The study by California Policy Lab found that people who move out of the Bay Area typically relocate to neighborhoods where home values are about 50% lower, and rents are about one-third cheaper than where they lived before. Residents who leave California are also 33% more likely to own a home five years after moving.