Temporary Housing Trends
As a global marketplace for furnished apartments specifically built for professionals, Urbandoor has the ability to recognize temporary housing patterns across large datasets. How large? Today, we have about 250,000 apartments across roughly 1,300 markets in more than 45 countries. And we’re rapidly growing.
Analyzing this temporary housing data is part of what gets us excited to jump out of bed every morning. This data has simply never existed in one place before. Before Urbandoor, the market for corporate housing and serviced apartments was fragmented and opaque. We’re helping bring it out in the light, level the playing field, and attract new entrants. To us, that’s thrilling.
We plan on regularly sharing our analysis of marketplace trends and offering you a public look for the first time. But before we dive in, a word on our methodology: Our Chief Architect & Head of Growth, Dave Greenstein, analyzed all the requests made through our global platform to date, yielding a bounty of interesting insights. These requests represent the needs of renters who are largely relocating for their job or are traveling for an extended business trip.
Among the mound, we teased out the following three trends to share with you today:
Furry Family Members
Not all people have pets or choose to travel with them, but certain cities seem to attract more pets per stay. Charlotte in North Carolina was the city with the most pet requests on our platform over the last 12 months (Oct 2017 – Oct 2018), while the London area had the least. Perhaps pet owners think their furry family members will enjoy the southern hospitality?
There are certain cities that are famous for needing a car: Los Angeles, for example. When we took a look at parking requests per city, it mostly played out as you would expect: sprawling cities less known for the public transit systems tended to have more parking requests. We were a bit surprised, however, to see cities like Boston, San Francisco, and Chicago to have over 20% of apartment requests include parking. Those cities have public transportation options as well as a host of ride sharing alternatives available. People must love their cars.
New York and San Francisco may be the most expensive cities in the US when it comes to buying real estate, but that doesn’t mean they are the most expensive to rent a furnished apartment. Our data shows that Boston is actually more expensive than NYC or the city by the Bay. It’s all about supply and demand – and as more properties join the Urbandoor marketplace, this could indeed change.
There you have it: three trends in temporary housing. Let us know what you’re interested in seeing by emailing email@example.com. Thanks for reading!
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