Which apartment markets will benefit most from remote work?

We think that for the extra one million footloose American workers created by the pandemic, the cost of living has become far more important to their decision of where to live than in the past, while the “desirability” of a metro and its climate have also risen in importance. On the other hand, job opportunities and local earnings have fallen in significance. Our analysis points to several southern metros benefiting from this, with eight of our top-10 ranked metros situated in Florida, Texas and North Carolina. Conversely, the relative losers are dominated by more expensive northern coastal metros, as well as less “desirable” metros that still demand mid-range asking rents. In view of the wider interest, we are also sending this US Commercial Property Focus to clients of our US Housing Service