By Andrew Woo
Renters are traditionally more mobile than homeowners, with the majority of renters indicating plans to settle down in a city other than where they currently live. Renters frequently move to new cities and metros in search of better jobs, more affordable homes and lifestyle changes. In order to better understand trends in renter mobility, Apartment List analyzed results from our annual renter survey of 24,000 renters and internal search data.
- 77% of Los Angeles, CA renters plan on settling down in a new city, compared to 64% of renters nationwide
- Affordability is the biggest concern for renters in Los Angeles, CA, with 49% of renters listing it as their top reason for leaving
- Phoenix, AZ is the most popular out-of-state destination for renters in Los Angeles, CA
Overall, Sunbelt renters are more likely to settle in their current location, while renters living in the Midwest and on the Coasts are more likely to plan on settling down in a different metro. In coastal metros, renters cite affordability as the largest driver of relocation, while in inland metros – primarily located in the Midwest and South Atlantic – better job opportunities are the main factor driving renters to new locations. Of the Apartment List renters looking to move to new metros, Washington, D.C., Los Angeles, and Atlanta are the most popular destinations.
For more information, you can read a more detailed post here.