3 out of 4 renters in LA want to move elsewhere

They blame rising housing costs

TRD LOS ANGELES /
Aug.August 16, 2017 03:00 PM
Nearly 77 percent of renters in Los Angeles want to move (Getty Images)

Renters in Greater Los Angeles believe the grass is greener on the other side.   

Despite a strong job market, three out of four renters in L.A. want to move away largely because of the area’s high housing costs, according to a recent study by Apartment List.

The study showed that the most popular destinations eyed by Angelenos are Phoenix and Las Vegas, which are proving to be more affordable, L.A. Weekly reported.

“In L.A., you have a lot of young people who want to try it out, last a few years and end up deciding to leave,” Apartment List’s research analyst Sydney Bennet told the Weekly. “You may love L.A. and may want to stay, but if you don’t have the income, you might end up leaving.”

Nearly 77 percent of renters in L.A. expressed plans to settle elsewhere, according to the study, which was based on a relatively small survey of 24,000 renters nationwide. 
However, the area with the highest percentage of renters wanting to move was New York with 83.2 percent and San Francisco with 82.8 percent.

The number of renters is quickly increasing across the country. In 2015, 1.4 million new renter households were created, according to a report by Harvard’s Joint Center of Housing Studies. [LAW] — Subrina Hudson 


Related Articles

arrow_forward_ios
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

Andy Reid, the President of MetroStudy

The great SoCal slowdown: Homebuilding drops 18%

arrow_forward_ios