New Report Suggests Multifamily Suburban Housing Could Be On the Rise

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Robison Wells
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According to a report from Moody’s Analytics, many people are considering moving out of large population centers as they have seen areas like New York and New Jersey—with very high density populations—get much sicker from the novel coronavirus. The report suggests people will be moving away from Los Angeles, New York, and Chicago, and to smaller towns like Madison, Wisconsin and Durham, North Carolina.

"The generation growing up today may remember the impact of the COVID-19 pandemic and be more likely to opt to live in less densely packed places," Moody's Analytics report author Adam Kamins wrote.

“An unavoidable lesson of the public health crisis associated with COVID-19 is that major metropolitan areas faced greater challenges,” according to NAHB economist Litic Murlali. “High-density lifestyles, championed by some planners over the last decade as a rival to suburban living, proved to be vulnerable to a virus due to crowded living conditions, dependency on mass transit, and insufficient health and public sector infrastructure.”

The suggestion of the report is that people will be moving out of large, densely-packed apartment buildings and into low and medium-density multifamily or single family developments.

This follows a recent report from the US Census Bureau that shows that out of the ten largest cities in the country, only two—Phoenix and San Antonio—saw growth in the past year. All others had negative growth.

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