Approximately 40% of renters in the DC region are apartment-hunting in other metro areas, per the latest Renter Migration Report from Apartment List, which is in line with the rest of the country.
Using ApartmentList searches from July through September 2021, the report states that rising rent prices are leading 40% of renters to search for apartments outside of their metro area, and 26% looking to move out of their state. Renters looking to move are mostly looking at San Jose, Raleigh, and New Orleans; Richmond, Virginia comes in fourth.
Baltimore and Philadelphia remain the most enticing search destinations for DC-area renters, accounting for 15.7% and 8.9% of searches. While New York City was the third most-searched by DC-area renters at the end of 2019, Virginia Beach has now taken that slot, representing 5.4% of searches.
Baltimore-area renters also account for about 25% of searches for apartments in the DC area, followed by New York City (7.7%) and Boston (6.9%). For renters who live in the New York City area, the DC area is the fourth-most searched destination, accounting for 4.5% of searches.
This study identifies user location by IP address and defines the DC metro area using the Census parameters for the Metropolitan Statistical Area, which includes far-flung areas such as Frederick, Maryland; Jefferson County, West Virginia; and Spotsylvania, Virginia.
This article originally published at https://dc.urbanturf.com/articles/blog/are-40-dc-area-renters-looking-to-move-away/18960.
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