Suburban areas across the U.S. have seen dramatic surges in renter populations since the start of the COVID-19 pandemic, according to a recent report by Point2. Driven by affordability concerns and increased remote work flexibility, renters have increasingly moved away from city centers into surrounding suburbs. Chula Vista, California, experienced the largest spike in renters, with a 41% increase, followed by several Phoenix-area suburbs like Gilbert, Glendale, and Peoria. These rapid shifts highlight a broader trend of urban decentralization as renters seek more space and lower costs.
Overall, suburban rental demand has outpaced that of major cities, pointing to a lasting impact on housing demographics. Notably, increases in rental populations were most significant in Sun Belt regions, where affordability and climate attract new residents. Experts suggest that this trend could influence housing development and pricing in these expanding suburban markets for years to come.
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