A Redfin report reveals that the ability to work remotely is enabling more Americans to begin relocating to more affordable locales. Redfin conducted a survey in December of last year of 272 American residents, all of whom shared that they had either already relocated to a new city or were planning to do so sometime within the coming year.
When asked what area(s) they had already or were planning to move to, roughly 75% of the survey respondents lived or answered the cities of Los Angeles, San Francisco, New York, Seattle, or Boston.
The report also revealed that for roughly 25% of the U.S. population, the instances of telecommuting rises exponentially following a move. A major reason for this phenomenon is that the current employment market is healthy, with the nation’s unemployment rate being at its lowest level in decades. Wages are also holding steady, making employers more flexible with workers, allowing more telecommuting opportunities.
This chance to telecommute is now enabling American workers to move to more affordable cities while still keeping their jobs and steady income. The popularity of this remote-working route for work after the relocation is reiterated by exact statistics from the survey, which showed that out of those Americans that have moved to a new, more affordable city, 25% of them work remotely following the move.
Redfin’s chief economist Daryl Fairweather commented on this recent relocation and working remotely trend: “The job market is very tight and employers want to hold on to people, so companies are much more willing now to allow workers to move.
He added another reason for employers allowing those who have relocated to work remotely: “Plus, technology has enabled employers to let staff work remotely in a cost-efficient and productive manner.”