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What’s Driving Renters Away from Bay Area?
Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.
A study by Apartment List found that 83% of renters in the Bay Area plan to leave the region, with two-thirds citing the high cost of living as the primary reason. That finding came out of a poll of 24,000 renters in 50 U.S. metros by the housing site.
Expensive metros are often temporary career stops for many young, educated workers, who find their first job after college or graduate school. Renters in coastal metros are facing additional rental pressure as a result of rising living costs.
In pricey East Coast and West Coast 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.
Los Angeles, Washington, DC and Atlanta are the most popular destinations for renters looking to move to a new state.
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