Job search leading most Americans' apartment moves

Employment opportunities continue to be a leading reason why many Americans pack their moving boxes and seek a new apartment.

A survey by Apartments.com showed 28.8 percent of consumers shopping for a new rental in January were doing so because of the promise of a new job. Comparatively, 13.3 percent said they were looking for a larger apartment, while 5.7 percent said they desired moving to a safer neighborhood.

Additionally, rising apartment demand has pushed rental prices higher, and consumers are reacting accordingly. The survey showed 9.7 percent were looking for a cheaper apartment last month, while 6.7 percent had just experienced a rent increase at their current rental.

Demand has also shrunk the supply of available apartments, forcing nearly a quarter of consumers to start their searches early, five to 12 months ahead of moving day.

"It's a good idea to lock into a lease right now," said Chris Brown, vice president of product management, Apartments.com. "Many management companies have announced rent increases and we're starting to see this reflected in the rents advertised on our site."

Cities around the country have seen rents rise as the supply of apartments shrinks. The Colorado Division of Housing reported vacancies fell in all six of the state's metropolitan areas, pushing local rents higher in each.
 

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