Why Americans Are Moving Out Of Major Cities & Where To Look For Properties

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

COVID-19 has shifted our habits, routines, and even perspectives. One perspective that has changed as a result of the pandemic, is many Americans’ choice of living situation. According to a survey of 1,020 respondents from the Harris Poll, 44% of Generation Z and Millennials surveyed said that they were considering leaving the city, and almost 30% of Generation Xers said they were likely to move. 

The high cost of living and cramped living spaces are among the reasons why city life is losing its allure. As many companies have implemented work from home for its employees, workers are looking for more spacious homes that have now been converted to all-in-one living spaces.

In an article from the New York Post, The Big Apple is experiencing an outflux of residents. Owner of Elite Moving & Storing in Yonkers Moon Salahie, noted that “People are fleeing the city in droves.”

He continued saying that, 90% of the moves, which he started since the city began reopening in June, are to the suburbs and are mostly families with kids worried about the school year.

Renting A Home

As many Americans look for homes in the suburbs, the search for single-family properties is becoming more and more scarce. The current demand for homes surpasses the number of available homes on the market.

To find more homes, it may be worth looking outside of the typical online search and expanding to other online marketplaces. One marketplace that currently showcases available single-family properties is the online platform, Roofstock.

Roofstock connects interested buyers with carefully vetted, single-family rental properties. They currently offer listings in states such as California, Michigan, New Jersey, North Carolina, Texas, Tennesse and many more. Their properties also cover a wide price range from $50,000 all the way to upwards of $3 Million or more.

Roofstock helps to provide homebuyers with a flood of information such as monthly rent, neighborhood rating, square footage, year built and more to help you find the right place to fit your needs.

Browse Roofstock’s active listings here.

Read more about Roofstock here:
Single-Family Vs. Multifamily Rental Properties: Which Investment Is Right For You?

Photo by Earvin Huang on Unsplash

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.