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Why 83 percent of Bay Area renters say they plan to leave

October 8, 2017

By Riley McDermid : bizjournals – excerpt

A new study has found that 83 percent of Bay Area renters say they plan to leave the region, with two-thirds of those saying the high cost of living here will be the factor that pushes them out.

The study, conducted by housing site Apartment List, polled 24,000 renters in 50 metropolitan areas nationwide.

“Often, young, educated workers flock to these expensive metros to work for a few years after college or graduate school, but don’t plan to settle down permanently,” the survey found. “Additionally, the rising cost of living may be putting additional pressure on renters to move out of coastal metros.”

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That cost of living remains a particularly intense factor in the Bay Area, where 63 percent of renters polled said it would be the main thing to spark their move elsewhere. After that, 13 percent cited the area’s jobs as a reason to leave, while only 10 percent said the commute time would be a reason to move out of the Bay Area… (more)

 

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