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Multifamily Renters Trend | How Today’s Moving Trends Will Affect Multifamily in 2014

Multifamily Renters Trend | How Today’s Moving Trends Will Affect Multifamily in 2014
According to a press release that the U.S. Census Bureau shared late last month, 11.7% or 35.9 million U.S. residents moved their primary residence in the 2012-2013 year. This translates to a drop of about 12% compared to this same time period from the year prior. When comparing the data found in the Geographical Mobility report published in 2013, these statistics show 2013’s numbers to be very similar to the 11.6% reported in 2011. Researchers found that 48% of Americans claimed that the move was housing-related, 30.2% was a result of family, and 19.4% said their move was fueled by employment-related reasons. What do these moving trends mean for multifamily? We have three solid years in which moving trends have remained steady or improved nationally, with certain specific metropolitan areas seeing enough growth to maintain the averages for their whole region. At 13.4%, the Western region of the United States has actually seen the highest percentage of all movers. This is followed by the South, who received 12.8% of our nation’s movers, and the Midwest who turned in an even 11%. The region with the lowest mover rate is the Northeast, who had 7.8% in the last year. According to these trends, industry professionals can expect to see at least these same percentages with a slight improvement being the most likely result of all the new activity planned for 2014. Multifamily News identified that two-thirds of today’s movers are staying within their same county of origin. In addition, 40% of these movers are staying within 50 miles......
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Phoenix Tops List of Best City for New Grads

Phoenix Tops List of Best City for New Grads
College graduates from across the country have more in common than that shiny new diploma and the class of ’13 distinction. No matter where they received their degree, they all face the same life-changing decision: where to work and where to live.  While the national unemployment rate is moving down, competition for jobs is still stiff, with the Bureau of Labor Statistics citing 11.7 million unemployed persons (April 2013) and a mere 3.8 million available jobs (March 2013). Add on the increasing cost of apartment rents, and it’s clear how important it is to live in a city that offers the best overall opportunity.  This not only includes opportunities for employment, professional growth and an affordable home, but also a location that makes you happy, catering to the needs of your day-to-day lifestyle.  To help make this process a little easier for young professionals, we have release the 6th annual Apartments.com Top 10 Best Cities for Recent College Graduates list. While larger cities—often featured in other best-of lists—obviously offer more job opportunities, it’s important to consider all the aspects of a city, even in smaller markets.  Over the past six years, Apartments.com has been culling it’s lists to keep them relevant and meaningful.  We adjust our methodology as needed to reflect current economic changes, taking in the bigger picture in unemployment, affordability and other key factors. #1 Priority: Affordability This year’s took a deep look at affordability and not just median income.  This bodes well for cities where the average rent for a one bed......
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