The migration pattern was dubbed "the donut effect," where urban centers lost population while surrounding areas gained, reflecting a shift in housing demand.
The analysis reveals that rent in suburban areas has surged by 46%, while the exurbs experienced an even sharper increase of 53%, disrupting traditional housing patterns.
As remote work became more prevalent, white-collar workers sought spacious and affordable housing options, pushing major cities' rental rates higher but diminishing their population.
Recent trends indicate that more people are relocating within cities rather than moving to different metros, demonstrating a shift in housing preferences amidst hybrid work models.
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