SANTA BARBARA, Calif. – Irving and Lewisville were the top two destinations for renters last year, according to a report by StorageCafe.
Irving had a 2021 inbound-outbound ratio of 3.2, meaning for every renter who left the city last year, 3.2 people arrived. The report sited affordable prices, proximity to Dallas’ city center, and big-name employers as major draws to the city.
Dallasites constituted the largest percentage of incoming renters. The most common out-of-state origin was Louisville, Ky. The median income in Irving was $45,021, and the average apartment size was 853 sf.
Lewisville had a 2021 inbound-outbound ratio of 2.5. The city’s flexibility and recreational options made it particularly attractive to renters.
Most new Lewisville residents came from Dallas and New York. The median income was $47,325, and the average apartment size was 878 sf.
Dallas and Austin were the only two other Texas cities to land in the top 20, ranking 17th and 18th, respectively. Dallas had an inbound-outbound ratio of 2.4, while Austin’s ratio was 3.0.
The rest of the top five destination for renters were Orlando, Fla.; Arlington, Va.; and Palm Bay, Fla.
The Texas Real Estate Research Center has more multifamily news online for free:
Source: StorageCafe