Boston Condos for Sale and Apartment Rentals

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Is Boston the new destination for NYC residents?

As dramatic rent prices impact states across the nation, renters are searching for more affordable places to call home. 

Nationally, the median rent price is up over 16% since January, with some cities seeing double that, according to a recent Apartment List report. The report was based on rental searches on Apartment List between July 1 and Sept. 30. 

The report noted that nearly 40% of renters searching for apartments were looking in a different metropolitan area from where they currently live. In addition, 26% were searching in a different state. 

Tech hot spots where residents can work remotely are seeing some of the highest migration activity. Raleigh, N.C., and San Jose, Calif., had the highest number (over 50%) of renters looking to move into and out of the cities. Austin, Texas, is also seeing a high turnover rate. 

Florida continues to be popular among New Yorkers, according to the report. About 14% of renters from New York were looking for homes in the Sunshine State. Miami is the No. 1 city for New York City renters, with 6.1% of searches leaving the Big Apple.

The second most popular metro area for New York renters is Philadelphia, followed by Boston, Mass., Washington, D.C., and Los Angeles, Calif. 

California has the highest amount of renters looking to move to another city. Renters in the Golden State have their sights set on Alaska, Hawaii, Washington, Oregon, Nevada, Arizona, Utah and Texas, according to the report.  

“We’re definitely seeing the remote work flexibility effect,” said Rob Warnock, senior research associate at Apartment List. “The pandemic really shifted people’s priorities and what they want out of their living space, coupled with affordability becoming a scarce commodity. People are rethinking where they want to be renters, what fits their personal lifestyle and economic situation.”

Boston Condos for Sale and Apartment Rentals

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