Suburban Rent Growth Outpacing Cities in Majority of Metro Areas, Here Are The Details
  • 8 months ago
Rent growth in American suburbs is exceeding rent growth in cities, according to a new study. The study found suburban rent growth is higher than city rent growth in 28 out of 33 major metro areas. Many white-collar workers who left city apartments at the beginning of the pandemic are now renting in the suburbs for longer periods, and the migration of families from major cities to suburbs during the pandemic appears to be becoming more long-term in nature. Remote and hybrid work allows workers to live further from city centers, boosting demand in suburban rental markets. Inflation and high mortgage rates could also be pushing some would-be homebuyers to keep renting.
Recommended