{"id":18518,"date":"2021-02-22T12:37:12","date_gmt":"2021-02-22T12:37:12","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18518"},"modified":"2021-02-22T12:37:12","modified_gmt":"2021-02-22T12:37:12","slug":"home-buyers-renters-are-favoring-smaller-markets","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-buyers-renters-are-favoring-smaller-markets\/","title":{"rendered":"Home Buyers, Renters Are Favoring Smaller Markets"},"content":{"rendered":"
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Renters are being drawn to smaller markets due to their lower costs and the opportunity for more space amid the pandemic\u2014but they may now be facing rising rental rates.<\/p>\n

\u201cAlthough rents across the U.S. have been growing at a slower pace since the onset of COVID-19 and the major tech hubs continue to see declines, some markets are seeing rents grow by double digits,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cMany of the same factors that attract home buyers to an area\u2014highly rated schools, job opportunities, affordability, and quality of life\u2014attract renters. Like homeowners, the pandemic has given many renters the freedom to work remotely, and the rental trends reflect that reality.\u201d<\/p>\n

The U.S. median rent in January eked out a 0.8% increase to $1,442, which is still below the pre-COVID growth rate of 3.2%, according to realtor.com\u00ae\u2019s January Rental Report, released Thursday. January, however, marked the first month since July 2020 that rental growth did not slow further, the report notes.<\/p>\n

The report also notes that seven of the top 10 metros with the largest rent increases last month were also among the metros where home prices increased more than 5% year-over-year. Those metros included New Orleans; Sacramento, Calif.; Rochester, N.Y.; Cleveland; Riverside, Calif.; Cincinnati; and St. Louis, Mo. Also, four of the top 10 markets with the largest annual rent increases are located in the Midwest, an area of the country that tends to offer more affordability than coastal regions.<\/p>\n

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realtor.com\u00ae<\/a><\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Renters are being drawn to smaller markets due to their lower costs and the opportunity for more space amid the pandemic\u2014but they may now be facing rising rental rates. \u201cAlthough rents across the U.S. have been growing at a slower pace since the onset of COVID-19 and the major tech hubs continue to see declines, … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18518","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHome Buyers, Renters Are Favoring Smaller Markets - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/home-buyers-renters-are-favoring-smaller-markets\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Home Buyers, Renters Are Favoring Smaller Markets\",\"datePublished\":\"2021-02-22T12:37:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/\"},\"wordCount\":264,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/2.18.2021_rentchart1.png?itok=_3WtauIq\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-renters-are-favoring-smaller-markets\\\/\",\"name\":\"Home Buyers, Renters Are Favoring Smaller Markets - 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