FRESNO, Calif. (KFSN) — The pandemic has resulted in many people not only working from home, but they’re also looking for ways to reduce their rent payments. As a result, the Valley has seen more people moving here from outside the area. Luxury apartments at The Residences at the Row in northeast Fresno have been quickly filled as the complex builds out the new complex. Many units were leased before they even became available.
Manco Abbott specializes in property management. Chief Operating Officer Adam Goldfarb said, “We see a lot of influx this year, especially with the brand new construction properties with a lot of the new amenities, are moving there and quite often it’s from out of town.” The website Apartment List helps people find apartments but research it has been conducting revealed an interesting trend when it comes to Fresno apartments. A large number of searches for Fresno units were coming from different parts of the state, especially Los Angeles and the Bay Area.
Apartment List Research Associate Rob Warnock explained, “This year, people from outside Fresno accounted for 35% so we saw about a 6-7% point increase in that search activity from people outside of the region.” Goldfarb said luxury properties were appealing to many people coming here from outside the region. Rents at The Row ranged from $1600 to $2300 a month but the complex also featured a fitness center and a pool. Many people who were working from home were drawn to the free high-speed internet that was offered. Goldfarb noted, “They’re going to the higher-end communities moving from big metropolitan areas. They’re used to apartments with all the bells and whistles.” But as money becomes tighter, more families seemed to be looking to relocate in more affordable areas Warnock said, “A lot of people need to find a cheaper place to live as a result of the economic fallout of the pandemic.”
Apartment List added its research showed roughly the same amount of people moving here from out of town, about 35%, were also looking to move out of the Valley. Last year the number was higher – at 42%.