Renters who work in large cities can save big by moving to commuter areas – though rents are creeping up in those markets, too, according to findings from data provider RealPage.
Some commuter towns that are far from bigger cities have seen rent growth as hybrid work schedules make them more viable options for renters looking to save.
For instance, renters in Allentown, PA, can save an average of $2,700 a month compared to rents in New York City – about two hours away – or $100 less than in Philadelphia, which is about an hour and a half away. Rents are up about 39 percent over five years in Allentown.
The average effective asking monthly rent in New Haven, CT is $2,251 – $2,200 less than rents in New York City. Rents there have shot up nearly 54 percent over the past five years – far surpassing the average U.S. asking rent growth of 27 percent.
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