Apartment hunters set their sights on urban centers across the US
January has emerged as a prime month for renters to secure deals on apartments, and recent data from RentCafe.com revealed which cities were the hottest markets for apartment hunters.
Minneapolis claimed the title of January’s most sought-after city for renters, with a 159% increase in page views from locals and renters from cities like Chicago, Dallas, and St. Paul over the same period last year. This surge in interest, coupled with a 26% decrease in available rental units, propelled Minneapolis to the top of the list.
“Notably, renters demonstrated a strong affinity for the city, favoriting 39% more listings,” RentCafe.com said in the report. “Plus, the remarkable 127% increase in saved searches suggests a growing demand for rental properties in Minneapolis from renters charmed by the city’s high quality of life.”
Queens, NY, has risen to second spot, showing a remarkable 242% increase in listing page views. The spike in interest is despite a 38% decrease in available listings, underscoring the high demand for apartments in the area.
Atlanta, securing the third spot, remains a hot spot for renters, with a noted 5% drop in available apartments year-over-year on RentCafe.com. The city’s Southern charm and rich urban amenities continue to attract prospective renters from cities like New York and Chicago.
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Detroit and Colorado Springs rounded out the top five. Detroit has witnessed a remarkable uptick in rental interest, while Colorado Springs captivated renters with an 111% increase in page views, reflecting the city’s rising appeal.
The report also breaks down renter preferences by region, with the West leading the pack with 11 cities in the top 30, followed closely by the Midwest and the South. The Northeast, although trailing with three cities in the list, saw significant interest in locations like Queens, Buffalo, NY, and Newark, NJ.
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