Key takeaways
- Renter migration refers to the movement of renters and tenants from one location to another and may occur across neighborhoods, cities, states, or regions.
- Recent migration trends reveal a strong preference for suburban living.
- Primary factors affecting migration patterns in renters include immigration, economy, and climate change.
Tracking renter migration trends has never been more critical for property managers. As tenant migration patterns shift, the trends illuminate valuable insights into market opportunities that shape decisions about where to invest in real estate, manage properties, or call home. From urban centers to suburban markets, understanding where renters are moving and why empowers you to plan ahead.
In this blog, we’ll dive deep into the latest multifamily housing trends in renter migration data. By exploring apartment rent data and uncovering key patterns, we’ll provide insights to help you navigate today’s competitive rental landscape. Whether you’re managing properties, deciding where to rent, or are simply curious about the forces driving tenant migration, this analysis will give you an insight into moving trends and the driving forces behind them.
In this post:
- What is renter migration?
- Top regional patterns
- Urban vs. suburban
- Impacts on renter migration
- Preparing for the future of renter migration
What is renter migration?
Renter migration refers to the movement of renters and tenants from one location to another. These moves may occur across neighborhoods, cities, states, or even entire regions.
To help you understand this data, a rental migration report is a comprehensive analysis that tracks the data surrounding renter migration. It reveals where tenants are relocating from and where they’re heading, offering a data-driven look into shifting housing trends. By compiling and interpreting renter data, these reports highlight critical patterns, such as popular markets, areas with growing rental demand, and regions facing potential tenant turnover.
Who benefits from a rental migration report?
- Property managers. Rental migration data pinpoints hot markets – regions experiencing a surge in rental demand. Knowing where renters are moving helps you adjust pricing strategies, craft targeted marketing campaigns, and focus efforts on amenities that attract and welcome new residents in competitive areas.
- Renters. If you’re renting, you can benefit from these insights by identifying the best locations to suit your needs. Whether you’re seeking affordability, to cut your commute, or for access to premium amenities, a migration report offers a clearer picture of where to rent.
- Developers. As a developer, you can rely on migration data to uncover growth opportunities. By understanding the regions drawing new residents, you can invest in areas poised for expansion and ensure their developments cater to renter preferences.
How often do renters move?
Currently, the resident turnover rate is between 40 – 50% with a retention rate of 50 – 58%. This means that around half of all renters are choosing to stay in their current residence while the other half are choosing to move.
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Top regional patterns
Understanding regional relocation patterns is essential as these trends not only highlight where renters are moving but also shed light on the economic and lifestyle factors driving their decisions.
Here are the patterns affecting the four most popular regions for renter migration:
1. South
The South continues to dominate as the most popular destination for renters, with 46% of movers choosing to relocate to the region.
Key factors motivating renters moving to the South include:
- Climate. The South’s milder winters and sunny weather appeal to those seeking a more comfortable year-round climate.
- Job market. States like Texas, Florida, and Georgia boast thriving economies, with industries such as technology, healthcare, and manufacturing driving growth.
- Affordability. Compared to regions like the Northeast and West, the South offers relatively lower housing costs, making it an attractive option for those seeking more space for less money. For instance, Austin saw a general decline in asking rent of 12% in 2024.
Cities like Austin, Nashville, and Tampa have emerged as major hubs, drawing in young professionals, remote workers, and retirees alike. If you’re a property manager in any of these markets, you should prepare for increased demand by optimizing your listings and highlighting amenities that align with regional preferences, such as outdoor spaces and energy-efficient features.
2. West
The Western United States continues to draw a significant portion of renter migrations, capturing 25% of all relocations. Known for its breathtaking landscapes and innovative spirit, this region is a magnet for renters seeking a blend of professional opportunities and outdoor adventures.
Specifically, Colorado, California, and Arizona are leading the way with western migrations.
Key factors in people moving to the West include:
- Professional expansion. The West is home to several thriving industries, including technology, entertainment, and renewable energy. Renters, particularly young professionals, are drawn to the career opportunities in these sectors.
- Outdoor lifestyle. From the beaches of California to the Rocky Mountains of Colorado, the region offers access to outdoor recreation, which has become a top priority for many renters, especially in the post-pandemic era.
- Housing opportunities. As a result of more expansive landscapes, the prospect of housing opportunities also expands. Some renters are lured into places like Arizona and Colorado because of the diversity of housing available.
While the West remains popular, affordability is a significant concern. Major metropolitan areas like San Francisco and Los Angeles continue to face soaring rents and housing shortages.
3. Midwest
The Midwest, often called the “Heartland,” continues to attract renters, capturing 18% of all relocations. This region is known for its balance of affordability and quality of life. Not to mention, it’s a haven for families and professionals seeking a slower pace without sacrificing access to modern amenities.
Minneapolis, Indianapolis, and Kansas City are leading the charge in Midwest migrations.
Key factors driving people to the Midwest include:
- Affordability. The Midwest is renowned for its relatively low cost of living, offering renters more bang for their buck. Whether it’s affordable housing or lower day-to-day expenses, this region allows renters to stretch their budgets further than in coastal cities.
- Family-friendly living. The Midwest is home to cities and towns with excellent schools, spacious parks, and safe neighborhoods, making it an ideal destination for families. Communities like Overland Park, Kansas, and Carmel, Indiana, consistently rank among the best places to raise a family.
- Job opportunities. With steady growth in healthcare, manufacturing, and agricultural industries, the Midwest provides diverse employment opportunities. Additionally, emerging tech hubs in cities like Columbus, Ohio, and Des Moines, Iowa, are drawing young professionals.
- Culture. The Midwest offers a rich cultural experience, from the music scene in Chicago to the barbecue traditions of Kansas City. Its vibrant communities and local pride create a sense of belonging for renters.
While the Midwest offers much to love, it may not appeal to everyone. For those accustomed to the hustle and bustle of coastal cities, the slower pace can feel like a significant adjustment.
4. Northeast
Although the Northeast accounted for the smallest share of relocations at 11%, it remains a magnet for renters who value its rich cultural heritage, historic charm, and access to world-class institutions. This region attracts individuals seeking a dynamic mix of professional, academic, and lifestyle opportunities.
Historic cities like Boston and Philadelphia lead the way in Northeastern migrations.
Key factors influencing renters to move to the Northeast include:
- Proximity to financial and academic hubs. The Northeast boasts prestigious universities like Harvard, MIT, and Princeton, and it’s home to major financial institutions in cities like New York City and Boston. This proximity makes it an attractive destination for students, academics, and professionals alike.
- Culture. From the historic landmarks of Philadelphia to the vibrant arts scene in Boston, the Northeast offers renters an unparalleled cultural experience. Its museums, theaters, and historic districts provide endless opportunities for exploration.
- Career opportunities. Often, renters seeking roles in finance, education, healthcare, or technology find the Northeast as a hub of opportunity, offering positions in both traditional industries and emerging fields.
Urban vs. suburban
Recent migration trends reveal a strong preference for suburban living, as many individuals moved between similar types of locales, such as suburban-to-suburban relocations. This pattern reflects a desire for familiarity, consistent amenities, and lifestyle continuity during transitions.
One of the most notable trends is the movement from central urban areas to suburban communities, with 41% of those leaving urban centers opting for the suburbs.
This shift is driven by the following factors:
- More space. Suburban areas provide larger homes and outdoor spaces, which have become increasingly desirable, particularly post-pandemic.
- Affordability. The cost of living in suburban areas is generally lower than in dense urban centers, making it an attractive option for families and professionals.
- Quality of life. Suburban neighborhoods usually have quieter environments, better schools, and access to community-focused amenities.
- Work changes. With hybrid and remote work shifts over the last several years, fewer people find it necessary to live closer to their jobs. Urban areas experienced the greatest impact on remote work, which makes sense that they would also see a shift in renter migration.
Sustainability. More renters view suburban living as more sustainable with cleaner air, more opportunities for sustainable living, and more.
These migration patterns underline the growing appeal of suburban living, positioning it as a top choice for movers seeking affordability, space, and a high quality of life.
Impacts on renter migration
Immigration
It’s true that, in many ways, immigration has traditionally shaped rental demands and trends, as new arrivals often seek apartments close to job opportunities and community networks. Alternatively, immigration’s impact can mostly be seen in areas where population growth is already being tracked.
What’s more, immigration influences both supply and demand in the housing market, with effects varying across different regions and timeframes. Additionally, people who immigrate to the U.S. have a greater chance of being long-term tenants as they rent housing for longer than natural-born residents.
Economy
Affordability continues to drive migration patterns, with renters leaving high-cost urban centers for mid-sized cities or suburban communities. Cities like Cleveland, Ohio, and Tulsa, Oklahoma, are becoming more attractive as renters look for economic opportunities and lower living costs. This trend reflects a growing preference for areas that balance affordability with access to jobs and amenities.
Climate
The increasing frequency of natural disasters also has an influence on migration decisions. Areas prone to hurricanes, wildfires, and flooding are seeing a rise in out-migration as renters prioritize safety and environmental stability. For example, some coastal regions are experiencing population declines as multifamily housing renters seek inland options with lower climate-related risks.
Preparing for the future of renter migration
Rent migration trends are always changing. In order to prepare for these changes — before knowing the details of said changes — you should plan ahead.
Here are some ways that you can plan ahead for changing rental trends:
- Emphasizing flexibility and amenities. As renters increasingly prioritize affordability, lifestyle, and flexibility, you increase your odds of more renters by enhancing your offerings to align with these preferences. Properties with co-working spaces, pet-friendly policies, and energy-efficient features can help attract and retain tenants in competitive markets.
- Leveraging technology. Technology continues to play a pivotal role in property management. Thus, tools like renter migration reports and predictive analytics can help you anticipate market shifts, optimize pricing strategies, and tailor your marketing efforts to meet evolving renter needs.
- Monitoring economic shifts. Economic factors, including rising housing costs in major urban centers, are driving renters toward mid-sized cities and regions with lower living expenses. You can easily track economic trends to identify emerging hot spots where rental demand is growing.
- Understanding climate-driven migration. With increasing concerns about climate change, renters are moving away from areas prone to natural disasters like hurricanes, wildfires, and floods. Easily factor environmental safety into your investment decisions and emphasize the climate resilience of your properties when marketing to potential renters.