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Millions of Americans plan to move to cheaper areas during the pandemic



The coronavirus pandemic has provided many Americans with more work flexibility, so tens of millions of people plan to relocate.

According to a study by the job market Upwork, about 14 to 23 million households, or as many as 11.5% said they plan to relocate to another city or region, and a higher proportion of residents in major cities (20.6%) said they plan to do.

Studies have shown that for more than half of households, one of the biggest motivations is their desire to live in houses that are at least 1

0% more expensive.

Adam Ozimek, chief economist at Upwork, said in a statement: “As our survey shows, many people view remote work as a move to where they want and where they can afford it. Opportunity. “This is an early indicator that remote work may have a greater impact on improving economic efficiency and expanding opportunities. ”

Most people also plan to move two hours or more from their current location.

San Francisco, New York City’s exodus from expensive cities led to a sharp drop in rents

These trends may bring bad news to major cities such as New York and San Francisco, but Ozimek said immigration will bring greater economic efficiency and equal opportunities across the United States.

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As previously reported by FOX Business, flights from San Francisco and Manhattan caused too many vacant apartments, which caused rental prices to plummet.

In San Francisco, the price of a one-bedroom apartment fell more than 24% in September. In Manhattan, prices fell 15.4%.

Overall, in the 100 largest cities in the United States during the same period, the average one-bedroom rent fell by 1% year-on-year.

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