Go West, Young Fam: Renters Are Leaving Austin For Denver And Seattle Because It's Unaffordable.
Nearly two-thirds of Austin renters looking to settle down somewhere else are largely doing so because of affordability, according to a new report from the research firm Apartment List . While the 65 percent of city renters leaving isn't all that different from the national average of 64 percent, the reason they're leaving should be a concern. “You know, long- term Austin renters who have seen prices rise through the roof over the last decade may realize that, if they hope to purchase a home, they might want to relocate somewhere more affordable,” said Sydney Bennet, a research associate with Apartment List . Affordability topped the list of reasons for 35 percent of renters leaving Austin , according to Apartment List , which compiled national apartment listing search data for the analysis. While Austin has long had a hot rental market , with an influx of young professionals and a tighter housing supply , more than half of Austin households are renters. But, when renter...