Multi-Family Trends—What Stays and Goes Post-COVID?
The dramatic shifts of “daily life” during the pandemic were almost impossible to predict. And a few of those changes are still lingering. In terms of housing, though, we’re looking at a mixed bag. Some multi-family trends won’t be going away any time soon, while others are already on the way out.
The Temporary COVID Shift
In the wake of the coronavirus, we saw a wave of younger renters move back to live with their parents. Remote work has made it easier to relocate, but we really shouldn’t expect these living arrangements to last. Now after the rollout of the vaccine, the vast majority of younger renters are ready to reclaim their independence by moving on to more vibrant environments.
Returning to quiet suburban neighborhoods may have seemed more comfortable during 2020. But today, living in a smaller city hub can offer the best of both worlds. In general, there’s a lower cost of living than in cities with massive populations. You don’t have to deal with heavy traffic or higher crime rates either. The “flight” from urban cores isn’t so much a return to the suburbs as a movement to embrace a better type of downtown scene.
Specifics for Long-Term Investments
It’s no secret that Boise, Idaho has been a magnet for transplants in recent years. COVID-19 didn’t slow that down. The future may never be certain, but all of the signs suggest that the population in Southern Idaho will continue to grow. The area is uniquely equipped to meet the general wants and needs of people all across the country. There’s plenty to enjoy downtown, and we have access to all sorts of outdoor activities nearby too.
Hard data goes a long way for making a sound investment. That’s how we can help. Developers come to us when they want to take a closer look at the so-called trends in Boise. We’re seeing a lot of opportunities here all throughout the Treasure Valley. If you’d like to start a conversation, please don’t hesitate to reach out!