Infographic: High-speed internet changes the world…again

10

Magnified by the pandemic, the prevalence of high-speed internet has again redefined place. If workers and students can work and learn from anywhere, where will they live? Idaho.

  • 8% of Americans moved in 2019, the lowest number since 1947
  • 19% Y/Y increase in U.S. moving contracts with United Van Lines
  • 95% Increase in moving contracts with those leaving Manhattan
  • 80% San Francisco and NYC saw 80% more people leaving than moving into their cities
  • 194% More relocations were to Idaho than from Idaho. New Mexico had the second highest ratio
  • 37% Millennials renting urban apartments are considering leaving the city—half say it’s about cost
Millennials signal urban exit
17% are already on the move
  • 4% moved to a less expensive city apartment
  • 4% moved in with city-based family / friends and stopped paying rent
  • 5% left the city temporarily
  • 3% left the city permanently
47% of millennials plan to remain in the city
  • 16% are unsure
  • 16% plan to leave in six months
  • 21% plan to leave within a year
37% have experienced a financial downturn
  • 17% lost their job
  • 10% were furloughed
  • 21% had their salary reduced

Of those who lost their job, only 25% have found new employment

48% of those leaving the city cited pandemic-related reasons:
  • Can now work remotely
  • Don’t want to use
  • public transportation
  • No social life due to lockdown
18% received rent relief, but not enough to offset job loss
  • 4% saw their rent decrease
  • 7% received a temporary discount or credit
  • 8% received a multi-month rent deferment

Download PDF

Download PDF