Coldwell Banker: 41 Percent Of Employed Americans Would Take A Pay Cut For More Affordable Location

The so-called “Great Resignation” boom of workers leaving their jobs is having an effect on the real estate market. According to a new report out from Coldwell Banker, nearly half of the employed workforce would sacrifice salary if it meant they could move to a more affordable city.

Per the report, conducted online by the Harris Poll among more than 2,000 U.S. adults, 41  percent of employed Americans would be willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location. Younger employed adults are more likely to be willing to do so, with 51 percent of those surveyed ages 18-34 up for the challenged.

As working adults get older, the idea of taking a pay cut to relocate becomes less and less attractive, with just 32 percent of adults ages 45-54 responding favorably to the idea.

The cities with the most relocation interest include Miami, Atlanta and Austin, according to the report.

Some 46 percent of employed Americans who live in the Northeast and West would be willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location.