The rapid change from employees working exclusively in offices to working part of the time at home has resulted in challenges and opportunities for real estate investors. Areas that are attractive to hybrid workers are experiencing an increase in prices as demand continues to heat-up.
When researching which cities employees prefer for hybrid work, we uncovered a few surprises. Our recent research can be seen here. To determine our ranking, we analyzed several factors including access to libraries, internet, and commute times.
When searching for new Replacement Properties to complete a 1031 Exchange, such as apartment buildings and rental houses, it may be beneficial to consider which cities are preferred by the growing numbers of hybrid workers.
In our analysis of the best cities for hybrid workers, several stood out as ideal destinations.
Coming in at #1 for the best city for hybrid workers is Miami. The city earned a top score in two categories. It has 11 libraries per 100,000 people, the highest of all ranked cities, and has the most Google searches for coworking spaces. Miami also boasts a shorter commute time of 26.4 minutes.
Atlanta earned a spot in second place by its high scores in households with internet services and Google searches about coworking spaces.
Cleveland rounds out the top 3 best cities for hybrid workers in the U.S. The Midwestern city earned a top spot for its high scores across our top four categories. With an average commute time of 22.8 minutes and 8 libraries per 100,000 people, this city proves to be a great choice for workers who desire a hybrid work schedule.
IPX1031 is your 1031 Exchange resource. Click here to read the Hybrid Workers post in entirety here.
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