Data Shows 28 Pct Of Americans Consider Relocation As WFH Gains Ground

Data Shows 28 Pct Of Americans Consider Relocation As WFH Gains Ground

An unintended side effect of the pandemic has been that younger Americans have found it more freeing to work from home and move to areas of their liking, even those outside of big areas where their corporate offices are located, according to a report from NPD.

By December, almost 20 percent of consumers said they were working from home full time, or five days a week, the report stated. In addition, more and more companies have begun offering remote work as an option, at least part time, and more plan to jump on the train in the future.

For some workers, this kind of flexibility has given them the ability to move if they choose to do so, according to the report.

Statistics show that there are around 35 million to 40 million moves in the U.S. taking place every year, the report stated. More than half take place between May and September, and 32 percent happen in July and August.

The pandemic has changed lifestyles enough that around 28 percent of Americans say they’ve thought of relocating, according to the report. The number of U.S. households indicating they plan to move this year has jumped 20 percentage points in 2021.

The reasons people are looking to move are wide, with some considering temporary moves while others look at more permanent ones, and reasons can vary from how close one is to family, retirement, lower cost of living and more. NPD reported that the changes in how people move will drive how industries and brands act, too.

As such, the long-term rental market has seen a boost due to the pandemic, with borders closing and people looking for ways to get away from home. Nestpick, which works in long and furnished apartment rentals, saw a 50 percent boost in bookings in the U.S. as opposed to when the pandemic began. With the ability to work from anywhere, workers made their long-term travel plans in spite of the pandemic.



About: Buy Now, Pay Later: Millennials And The Shifting Dynamics Of Online Credit, a PYMNTS and PayPal collaboration, examines the demand for new flexible credit options as well as how consumers, especially those in the millennial demographic, are paying online. The study is based on two surveys, totaling nearly 15,000 U.S. consumers.

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