A new study by Trulia suggests that lower- and middle-income Americans are moving out of the highest cost metropolitan areas.
Trulia analyzed census data from 2010 to 2014, studying migration patterns from the costly coastal cities to less expensive metro areas.
People under age 40 without a bachelor's degree were found to be moving out of New York City, California cities and Florida coastal cities like Miami.
One characteristic of the coastal cities: Extreme housing costs.
Assuming a mortgage with 20 percent down and a rate of 4 percent, how much does a mortgage payment eat up income?
Here is how Trulia rates the 10 most expensive metro areas.
1 In San Francisco a mortgage payment requires about 52 percent of income, the most costly area in which to live.
2 San Jose 43.1 percent
3 Los Angeles 41.5 percent
4 Orange County, 38.4 percent
5 Honolulu, 37 percent
6 Oakland, CA, 36.3 percent
7 San Diego, 35.2 percent
8 Ventura County, CA., 30.9 percent.
9 New York, 29.9 percent
10 Miami, 27 percent.
