We analyzed 6 million renters across 4 CBSAs to see if COVID had induced any changes to mobility, net migration, and home-ownership trends.
| CBSA | Renters Tracked (2020) | 2015 Population | 2015 Annual Net Migration (All) |
| Philadelphia, PA | 1,386,079 | 6,053,720 | 1,894 |
| Atlanta, GA | 1,458,793 | 5,615,364 | 53,768 |
| Chicago, IL | 2,238,462 | 9,557,294 | -36,047 |
| San Diego, CA | 1,211,037 | 3,265,700 | 19,212 |
We broke the tracked renters, into 2 cohorts of movers, people moving before COVID and during COVID.
(a) 01 Nov’19 – 01 Mar’20 (Pre-COVID), figures in RED
(b) 01 Mar’20 – 01 Sept’20 (Post-COVID), figures in GREEN
Since the US national emergency was declared on 03/13, this cut-off date is a decent proxy for observing changes in behavior, employment and migration patterns.
The below is for analysis purposes and aims to find trends in renter behavior due to the pandemic.
Check 1: People did move Post-COVID, despite lockdown
Check 2: More renters are buying homes than Pre-COVID
Check 3: In need for space, Apartment renters are not moving to Single Family Homes post-COVID
Check 4: Incomes have dropped for renters
Check 5: Renters are moving to suburbs Post-COVID
Top-5 Zips to Move to: Pre-COVID red, Post green
Philadelphia, PA
| Pre Covid | Neighborhood | Post-Covid | Neighborhood |
| 19143 | Kingsessing | 08110 | Delair, NJ (suburb) |
| 19130 | Fairmount District | 08009 | Berlin, NJ (suburb) |
| 19103 | Center City | 08105 | Camden, NJ (suburb) |
| 19146 | Point Breeze | 19525 | Gilbertsville, PA (suburb) |
| 19139 | Haddington | 08102 | Pyne Point, NJ (suburb) |
Atlanta, GA
| Pre Covid | Area | Post-Covid | Area |
| 30080 | Smyrna | 30336 | Fulton County |
| 30349 | College Park | 30301 | Downtown |
| 30083 | Stone Mountain | 30092 | Norcross |
| 30096 | Duluth | 30248 | Locust Grove |
| 30350 | Sandy Springs | 31119 | Buckhead |
Chicago, IL
| Pre Covid | Area | Post-Covid | Area |
| 60657 | Lakeview | 60124 | Elgin (suburb) |
| 60640 | Uptown | 60603 | Loop |
| 60647 | Bucktown | 60606 | Loop |
| 60636 | W. Englewood | 60585 | Plainfield, IL (suburb) |
| 60614 | Depaul | 60554 | Sugar Grove (suburb) |
San Diego, CA
| Pre Covid | Area | Post-Covid | Area |
| 92109 | Pacific Beach | 91931 | Guatay, CA (suburb) |
| 92104 | North Park | 92170 | Horton Plaza |
| 92101 | Little Italy | 91905 | Boulevard, CA (suburb) |
| 92107 | Point Loma Heights | 92175 | College East |
| 92126 | Mira Mesa (suburb) | 92051 | Townsite |
Data can help you understand patterns, and win in tough markets. For learning how Beekin can help you buy, manage assets better, write to hello@beekin.co.
TLDR: Renters are moving to suburbs, based on 6 million renters’ moves tracked over 12 months. Some wealthy renters are buying homes more aggressively.
