"Consumers would rather pack their bags than pay a higher rent, and that can play out in two ways: moving to a less expensive city or downgrading within the same city."
"During the pandemic, swaths of city-dwellers left coastal homes, further enabled by work-from-home options, with younger consumers skewing towards this trend of migration for affordability."
"People within the West and Northeast are moving towards the South and Midwest searching for more affordable options, as they experience only a 2% increase in new rents."
"The trend of moving to cheaper apartments is most common amongst those making more than $125,000, signifying that even higher earners are seeking greater financial flexibility."
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