Renter search data compiled by Apartment List, an online rental platform, shows 33% of its L.A. users looking for a new apartment are searching for listings outside the city.
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The platform's Renter Migration Report finds the top destination outside of L.A. is Phoenix, which comprises nearly 22% of searches. Las Vegas and Riverside round out the top three with 13% and 11% of searches, respectively.
Los Angeles rental prices drop for first time in a decade, possibly because of coronavirus stay-at-home orders
LA rental prices drop for first time in a decade, possibly because of COVID-19 stay-at-home orders
Meanwhile, 32.1% of those looking to live in L.A. are from outside the metropolitan area, with most of the searches coming from Riverside, followed by Phoenix and Charlotte.
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The report provides an early glimpse into how the coronavirus pandemic might be impacting where renters are looking to live, and while Apartment List does expect that COVID-19 could have a significant impact on moving trends in the long-term, the company says the new data is similar to what they saw before the pandemic.
The report also stated that the share of renters with imminent move dates rose 10% year-over-year as shelter-in-place orders started to go into effect in the second half of March.
Rental prices in the L.A. area are down for the first time in nearly a decade, according to CoStar, a research firm that tracks commercial real estate information.