Behind every move is a motivation. This year, people are voting with their feet and relocating to places that better serve their personal and professional preferences. Need more space? Desire to live closer to family? Want to live somewhere with a lower cost of living? There’s a city for that. Here is our take on three key factors influencing people moving.
Access to affordable housing
With real home prices rising nearly 20 percent since the onset of the pandemic, finding affordable housing has been a challenge. First-time home buyers struggle to gain the competitive advantage in the current housing market. Demand for rentals has increased. And, after two years of working primarily from home, employees are acutely aware of their surroundings and consider making a move to a place that better suits their work-from-home needs.
Overall quality of life
Of course, access to affordable housing also plays a role in determining quality of life for an area, but there are other contributing factors. Length of the daily commute, access to quality education and healthcare, and crime rates are other elements that affect the quality of life a city is able to provide. These are all factors that people, especially families, consider when planning a move.
Relocation for job or career
The Covid-19 pandemic ushered in a disruption to many peoples’ jobs,with some losing jobs and others shifting to more flexible or completely remote work schedules. An increasing number of people can move simply because they have newfound flexibility due to the rise in remote work opportunities leaving them untethered to a specific location. In fact, a record one-third of Americans are looking to relocate. That statistic, coupled with business travel resuming, support a rise in demand for corporate housing – fully furnished, single-family residences.
Corporate housing can alleviate stressors associated with finding immediate, affordable housing and relocation concerns for both employees and businesses. It can better position businesses to attract and retain top talent, a key concern with the “Great Resignation.” And, it can vastly improve the overall quality of life for people by reducing commute times and placing employees in close proximity to quality education and healthcare options.
Considering these factors, AvenueWest is actively seeking new franchise owners to help meet the demand realized across the corporate housing industry. Cities such as Washington D.C.; Charlotte, NC; Huntsville, AL; Orlando, FL; Nashville, TN; Columbus, OH; Philadelphia, PA; Lincoln, NE; Austin, TX; Albuquerque, NM; Salt Lake City, UT; Beaverton, OR; and Irvine, CA are already experiencing significant population growth, and poised to continue to attract businesses and growth.
AvenueWest is proud to be a national leader in corporate housing, providing an ideal opportunity for realtors seeking to tap into this steady and growing source of revenue. Through our coast to coast franchise branches, we offer individuals and families move-in ready month-to-month residential rentals suited to their needs. If interested in exploring an opportunity to be part of our corporate housing family, visit us at https://franchising.avenuewest.com/. Those ready to take the next step, we encourage you to register your interest here.