CHARLOTTE, N.C. — More remote workers across the U.S. are willing to move away from their current home to find lower living expenses, according to a new study.
National mortgage researchers at Fannie Mae looked into the number of remote job workers who are moving farther away from work to find a cheaper place to live. The study shows all ages and income groups have grown more willing to pack up if it means lowering their mortgage or rent prices.
The trend's been going up since 2021 but now researchers say young workers, those who are age 18 to 24, are significantly more willing to relocate than their older co-workers. The study found that 30% of workers 18-24 are willing to move farther away compared to 18% in 2021.
Fannie Mae's report found that "affordability" is the most important factor when it comes to finding a place to live. That goes for owners and renters. Researchers concluded that workers feel more secure in their remote work situation than before, giving them confidence to move farther away from the office.
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It's a trend that's being seen in the Charlotte area already. With rent and home prices still sky high, rural counties in the Charlotte area have noticed a surge in new residents. That includes Lancaster County, South Carolina, where the population is on track for a 40,000 increase over the course just two years.
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