Renters are on the move. Here are the 10 most popular cities for those who have migrated
Just as homebuyers have been moving to new areas of the country for less expensive housing options, so too have renters. And that migration is increasingly taking people to Dallas—especially those from California.
A study of 3.4 million rental applications from 2021 has pinpointed the areas people are migrating to. More often than not, that’s the suburbs.
Millennials were the renters most likely to move across the nation, says the report from StorageCafe. They were 2.6 times more likely to relocate than Generation X, and 4.6 times more likely than baby boomers. That’s not especially surprising, as younger generations have always been more likely to move as they seek and find employment in new areas.
More than 10% of the people who moved out of state ended up in Texas, with Florida attracting 8.6% of the migrators. The top city was Irving, Texas, a feeder city located just five miles from the Dallas city center. The city was also a popular alternate location for people in the Dallas area.
In Florida, it wasn’t the beach cities that attracted renters, it was the heart of the state, with Orlando and Palm Bay leading the list.
Here’s a look at the 10 most popular cities for migrating renters:
- Irving, Texas
- Lewisville, Texas
- Orlando, Fla.
- Arlington, Va.
- Palm Bay, Fla.
- Boulder, Col.
- Atlanta, Ga.
- Jersey City, N.J.
- Tempe, Ariz.
- Washington, D.C.
“The pandemic shifted the way in which people could work and the amenities they could enjoy,” said Sean Wilkoff, assistant professor of finance at the University of Nevada, Reno’s College of Business. ”This shift in work and amenities has influenced renter and homeowner migration trends. We have seen more and more renters and homeowners moving out of gateway cities and into feeder cities.… Now that renters can work remotely, they are interested in a different set of amenities that feeder cities can better offer.”
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