6 Rental Market Trends to Expect in 2021

December 16, 2020
October 21, 2022

No one could have predicted the rental market trends in 2020. The market faced many hurdles as the impact of the coronavirus pandemic led many people to move, including a large percentage that bought their first homes and others who moved in with friends or family members to cut costs.

Rental prices dropped in major cities, including New York and San Francisco, as employees quickly switched to remote working. Moving to tech hubs such as Austin, Raleigh and San Francisco was largely put on hold as employers encouraged workers to work from home through part of 2021.

The pandemic is likely to change the expectations and behaviors of renters for an extended period as people grew accustomed to conducting virtual real estate tours and finalizing leases and other financial transactions at home so they could easily social distance.

Here are six rental market trends we expect will remain the "new normal" for renters and property managers.

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About lulafit
Lulafit works with real estate teams and employers to turn office buildings into workplace destinations.  Whether consulting on the design of the amenity suite or activating spaces with on-site operations, our hospitality-focused and wellness-forward approach takes the stress out of building amenities to support the future of work.  The result is increased retention, higher engagement, and healthier and happier people.
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