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Most renters moving to a major metro are seeing increased housing costs. A new study from Yardi’s Storage Café analyzed the increased costs for new renters in major metros and found that 48.8% of new entrants into major metros experience an increase in housing costs. On the other hand, 21.3% of new entrants experience a decline in housing costs.

“Almost 50% of the movers to the top metros declared that they experienced an increase in housing costs,” Maria Gatea of Yardi Storage Café, tells GlobeSt.com. “However, that might not be that surprising, as 32% of the people moving wanted larger or better-quality homes or more desirable neighborhoods,” . Naturally, this translates into increased housing costs. It’s also worth noting that, in addition, almost 15% of the movers declared they relocated in order to form their own household, which usually implies getting a larger home.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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