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Renters, like home buyers, are in search of greater affordability. A recent study from StorageCafe of 3.4 million rental applications from 2021 pinpointed the top destinations for renters, which includes suburbs and “feeder cities”—areas that serve as easy commutes from city centers but tend to offer much lower home prices.
More than 10% of renters who moved out of state ended up heading to Texas in 2021, particularly the Dallas suburbs. Irving, Texas, topped the list, a city just five miles outside of the Dallas city center. Florida attracted 8.6% of relocating renters in 2021, the StorageCafe survey finds. In Florida, the beach may be a draw, but renters were more attracted to areas like Orlando and Palm Bay.
“The pandemic has shifted renter migration trends from gateway cities to feeder cities,” says Sean Wilkoff, assistant professor of finance at the University of Nevada, Reno, College of Business. “Now that renters can work remotely, they are interested in a different set of amenities that feeder cities can better offer.”
