Among the trends emerging as a result of the pandemic, multifamily housing and out-migration to affordable suburban areas remain popular and unmoving.
According to MultiFamilyNews, in areas of California such as the Inland Empire, Sacramento, and parts of the Central Valley, for example, households moved from higher-cost coastal counties to inland cities offering more bang for the housing buck. By examining property sectors, it’s apparent that out-migration to lower cost regions is occurring on a larger scale than the pre-2020 period. Prior to the onset of the pandemic, roughly 15 percent of movers went to a different state. This share increased in the last decade as affordability constraints, particularly within coastal states, weighed on households.