YOUNGSTOWN, Ohio (WKBN) – Out of all of the metropolitan areas with at least 500,000 residents in the United States, Youngstown-Warren is the third most affordable for new renters, according to new data.
The COVID-19 outbreak is poised to cause major migration shifts across the U.S. According to a recent report by Pew Research Center, 22% of U.S. adults changed their residence or knew someone who did because of the pandemic.
This is a reversal from the longstanding trend of Americans staying put and could have far-reaching effects on local populations and economies.
Prior to COVID-19, geographic mobility in the U.S. reached historic lows.
Data from the Census Bureau shows that between 2018 and 2019, only 9% of Americans changed their address.
Throughout the 1950s and 1960s, that rate was around 20% before it started declining.
Among those who did move in 2019, roughly six in 10 people moved within the same county, with far fewer moving across county or state lines.
Despite the overall drop in mobility, people who moved in 2019 were more likely to do so for work-related reasons than in years past.
These mobility trends are likely to reverse course sharply in the wake of COVID-19, especially as more companies allow for remote work. The new Pew Research data suggests that people have moved as much in 2020 already as all of 2019.
Among those who moved, some of the main reasons were to reduce their risk of infection, to return home after college campuses closed, to be with family, and to cope with job loss and other financial problems.
A recent Harris poll found that because of the outbreak, 39% of urban dwellers are considering a permanent move to less crowded places, such as the suburbs or rural areas.
As with the state-level data, more densely-populated metropolitan areas in the Northeast, the West Coast and Florida tend to be the most expensive, while less densely-populated areas in the Midwest tend to offer new residents more affordable housing options.
Of the 15 most affordable metro areas for new renters, six were located in Ohio.
The analysis found that in Youngstown-Warren, prospective renters need to work 138 hours in order to sign a rental agreement, compared to the national average of 203 hours.
Here is a summary of the data for the Youngstown-Warren-Boardman, OH-PA metro:
- Hours of work needed to sign a rental agreement: 138
- First month’s rent + last month’s rent + security deposit: $2,232
- Median 2-bedroom monthly rent: $744
- Median hourly wage: $16.18
For reference, here are the statistics for the entire United States:
- Hours of work needed to sign a rental agreement: 203
- First month’s rent + last month’s rent + security deposit: $3,879
- Median 2-bedroom monthly rent: $1,293
- Median hourly wage: $19.14
For more information, a detailed methodology and complete results, you can find the original report on HireAHelper’s website.
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