RESEARCH TRIANGLE PARK – Conventional wisdom since the beginning of the COVID-19 pandemic – especially in large metropolitan centers such as New York and Los Angeles – has been that people will want to move to communities that have not been as hard hit. But a new survey casts doubts on whether a mass exodus from big and small cities is at hand. A key reason is just how little impact telework has had on people’s future plans.
In fact, as many as 30% of people surveyed say they are less inclined to move whereas only 17 percent say moving sounds like a good idea, reports ApartmentList.com.
Yet there are big worries about big places. Among high-density city dwellers the percentage mulling a move is higher.
“The density that many value in normal circumstances has become a temporary liability amid social distancing. And according to our survey, it is true that many city residents are considering a move. Nearly 30% living in high-density urban areas say that because of the pandemic, they are more likely to move by year’s end,” ApartmentList notes. “This is more than double the rate of those living in rural parts of the country, where residents are much more likely to stay put rather than to relocate.”
- Related coverage: Read the full survey online.
Reasons for staying put include concerns about health.
In terms of reasons for moving, however, economic considerations dominate (32%) from the need to find cheaper housing to seeking better economic opportunity.
The telework factor
Another big reason thought to create a moving environment has been the transition to telework. Since more people are working from home due to “stay in place” orders, 19% of those surveyed said they don’t need to live in the city. But ApartmentList says “the narrative that remote work will fuel an exodus from cities may be a bit overhyped. Although 19 percent of those who are more likely to move cite this reason, it is actually the least prevalent factor we asked about.”
ApartmentList says that “the conversation around mobility has primarily centered on the possibility that the widespread adoption of remote work could loosen the previously unbreakable ties between labor and housing markets.” But, the survey authors point out:
“We do find that a subset of our survey respondents are now planning to move away from the city where their employer is located and work remotely, lending some credence to a trend that has so far been observed mostly anecdotally. However, this is not the dominant theme that emerges from our survey results.”
The following graphic highlights key findings:
Apartment List graphic
