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On the move: Why Miami renters are relocating in droves

by Jessica Hamrick

Despite settling in Miami, a recent Apartment List report suggests that many of the city’s renters aren’t so settled after all. The survey – which consists of nearly 24,000 metropolitan renters nationwide – reveals that 76 percent of residents currently renting properties in the Florida city plan on moving to a different metropolitan area in the coming years. In comparison, the amount of renters intent on changing metros at the national level sits at around 64 percent.

At 45 percent, the most common explanation given for wanting to leave Miami is an overall lack of affordability. As a large coastal economy, the cost of living within the city limits continues to increase, driving current residents straight out of town. Moreover, about 24 percent of people questioned feel that a scarcity of diverse job opportunities is a major factor in the decision to relocate. Among the other reasons provided are both the particularly long morning commute (9 percent) and general safety concerns (8 percent).

Source: Apartment List

Where are all of these renters going? Well, it is likely that some of them are staying close by. The most popular in-state relocation option for those from Miami is in Orlando, Florida. However, a good number seem have their eyes set a bit further on the horizon – as the most popular out-of-state metros chosen by renters from the same area include Los Angeles, California and Atlanta, Georgia.

 

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