In November, more Americans moved due to the pandemic compared to summertime. An increasing number of Americans remain financially affected as the pandemic continues, resulting in a growing share moving due to financial reasons, reports Realtor.com. According to a new Pew Research Center survey conducted in late November, 5% of adults moved temporarily or permanently due to the pandemic. In June, that share hit 3%. Pew’s survey found it is most common for an adult aged between 18 and 29 to have moved. Lower-income households and people of color were also more likely to move during the past year.
Pew’s latest survey indicated that financial strains are increasingly motivating Americans’ decisions about where they live. In the June survey, only 18% of people cited financial reasons, including job loss, as being the most important factor behind their choice to relocate.
At that time, most people were moving because the risk of catching COVID-19 was greater where they were originally living. The June survey also captured the high degree to which college students were being forced to relocate as campuses had closed in the spring.
But in the November survey, a third of adults who had moved said that financial stresses were the most important factor behind their choice. Moreover, some 5% of adults nationwide reported in November that they had someone move in with them during the pandemic, and the primary factor behind these co-living arrangements was financial strain.