Apartment List just published their quarterly renter migration report, and found that many of the moves taking place during the pandemic may end up being temporary.
Their Q4 Migration report analyzes proprietary data from millions of user searches from July through November to determine where Americans are looking to make their next move. Compared to this time last year, there has been a 30% increase in the share of renters searching for leases of six months or less. The uptick in interest for short-term leases is driven by renters looking to leave expensive coastal metros, as well as those looking to move to mid-sized metros in scenic locales.
Key insights for Charlotte include:
31.7% of those looking for a place to live in Charlotte are searching from outside the metro, compared to 32.5% at this time last year. The most common source of renters looking to move to Charlotte from elsewhere is New York, NY, followed by Columbia, SC and Raleigh, NC.
21.5% of apartment hunters currently living in Charlotte are looking to move elsewhere, compared to 19.9% last year. Raleigh, NC is the most popular destination among these renters.
Among those looking to move to Charlotte from elsewhere, 13.7% are searching for a short-term lease, while 16.7% of renters looking to move away from Charlotte want a short-term lease.