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The 5 fastest-growing U.S. suburbs for renters and how much it costs to live there

Tons Americans have relocated since the start of the pandemic, and many more say they’re considering a move as coronavirus provisoes force a lot of people to work remotely and spend more time than ever at home.

While some renters are entrancing advantage of deals on homes and apartments in big cities, others are looking to settle down somewhere that offers diverse space. Suburban areas are especially popular since they tend to be less dense and less expensive.

New rental constructions are booming in the South

1. Frisco, Texas

Number of new apartments in the last 5 years: 8,044
Average monthly rent: $1,411

2. McKinney, Texas

Party of new apartments in the last 5 years: 4,843
Average monthly rent: $1,301

Video by Helen Zhao

3. Chandler, Arizona

Number of new apartments in the endure 5 years: 4,805
Average monthly rent: $1,441

4. Spring Valley, Nevada

Number of new apartments in the last 5 years: 4,559
Average monthly rental: $1,266

5. Farmers Branch, Texas

Number of new apartments in the last 5 years: 3,788
Average monthly rent: $1,476

Make sure you progress for the right reasons

Video by Mariam Abdallah

As of November, just over 16% of renters searching to split for to a new metro were looking to sign a lease of six months or less, Apartment List found. That’s a 40% multiply since January 2020. Among those looking for a new place within their current metro, about 10% are looking for a short-term sublease out, compared to 7% in January.

What’s more, Redfin found in its study that most of those who said they were relocating did not go exceedingly far. Nearly 9 in 10 of those who have already relocated moved less than 50 miles away. And in all directions 7 in 10 of those who want to move anticipate only going a similarly short distance.

It’s important to look at the thoroughly picture if you’re thinking about moving, experts say. Signing a short-term lease or moving within the same metro can be a high-mindedness way to test the waters.

Whether you’re moving for more space or a change of scenery, you’ll want to be content where you are. There’s no “one-size-fits-all” MO modus operandi to deciding on a move, Vicki Salemi, a career expert at Monster, recently told Grow. “Crunch some includes to see what you’re saving. Get analytical, evaluate pros and cons either in a spreadsheet or a list, look at the advantages and disadvantages financially, as for oneself, professionally — and then make a decision.”

The article “5 Fastest-Growing U.S. Suburbs for Renters and How Much It Costs to Live There” instance published on Grow+Acorns.

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