More than three-fourths of renters in the Los Angeles/Orange County region want to move to a new area, compared with nearly two out of three renters nationwide, a report by Apartment List says.
The analysis showed:
• 77 percent of Los Angeles/Orange County renters plan on settling down in a new city, compared with 64 percent of renters nationwide.
• Affordability is the biggest issue for Los Angeles/Orange County renters. Nearly half of those moving cite it as the top reason.
• Phoenix is the most popular out-of-state destination for renters in Los Angeles/Orange County.
Sunbelt renters in Arizona, Texas and Florida are more likely to stick where they are, according to the report. And metros in Southwestern states, including Nevada, Arizona, New Mexico and Texas, are popular spots in which to settle. The Top 5: San Antonio, Louisville, Houston, Raleigh and Charlotte.
In addition to Los Angeles and Orange County, renters in West Coast areas including San Diego, Seattle and Portland frequently cited affordability as a reason to leave. Affordability was less of an issue in Southern and Midwestern metros. In the Rust Belt and South Atlantic, the big concern was job opportunities.
Despite affordability issues, however, Washington, D.C., and the Los Angeles/Orange County region remain popular destinations for renters from elsewhere.
Reasons for moving, nationwide:
• Job opportunities: 34 percent
• Affordability: 30 percent
• Safety: 8 percent
• Commute time: 7 percent
• Weather 7 percent
• Dating and friendship: 5 percent
• Parks and entertainment: 3 percent
• Quality of schools: 3 percent
• Other: 3 percent
The survey wasn’t based on a scientific sample, but Apartment List said it polled 24,000 renters, calling it the largest renter survey in the country. The website also used internal search data in the analysis.
“We’re combining the search data for hundreds of thousands of users to illustrate where renters in different metros are moving, and factoring in search time to evaluate serious apartment hunters,” said Sydney Bennet, who researches economic trends in the housing market at Apartment List. “While not every single renter will end up moving to the new city, by the time most people are looking at and contacting apartment buildings, they are serious about moving.
“We believe there are enough survey responses for data to illustrate trends in the (broader) renter population,” she said.