In most cities, out-of-towners are coming to town with more to spend on housing than the locals—about 30 percent more.
For example, the average out-of-towner moving to Nashville in 2021 had $736,900 to spend on a home, 28.5% higher than the $573,400 average budget for local buyers, according to a new report from real estate brokerage Redfin.
This gives Music City the biggest budget gap among the cities included in its analysis; relocators have bigger budgets than locals in 42 of the 49 cities included in the report.
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