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Apartment-seekers relocating for work

February 24, 2011 - A survey of consumers looking for a new apartment in January said they were relocating primarily for work reasons.

According to Apartments.com, 28.8 percent of its website visitors last month said they were looking for a new apartment as part of their job search. It was the most prevailing reason but not the only one offered - 13.3 percent of renters added they were looking for a bigger rental, while 5.7 percent said they desired living in a safer neighborhood. Finances, as expected, were a concern for many, with 9.7 percent noting they were looking for a cheaper apartment and 6.7 percent adding they were reacting to a recent rent increase at their own apartment.

With demand for apartments rising, they are not only getting more expensive - they're often more scarce. As a result, 20 percent said they were starting their rental search sooner - three to four months in advance, with nearly 25 percent saying they were looking as early as five months to a year ahead of time.

"It's a good idea to lock into a lease right now," said Chris Brown, the site's vice president of product management. "Deals can still be had, but they're getting harder to find."

Employment continues to be an important concern for relocating families everywhere. According to the latest report from the Department of Labor, the country added just 36,000 new jobs last month, a slow rate of growth that could lead more consumers to look diligently for new opportunities.
 

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