How Does Remote Working Impact the Housing Market?

Data scientists at Ladders are projecting that 25% of all professional jobs in North America will be remote by the end of 2022, and remote opportunities will continue to increase through 2023. So, how does this impact the housing market?

In short, look for localized effects in certain markets as demand for housing shifts. People who work remotely may be more likely to move to areas with lower costs of living, impacting home prices in areas with traditionally lower ticket prices, as demand for housing in cheaper locations increases. Remote work is also changing the types of homes that people are looking for. For example: homes with dedicated office space or extra bedrooms that can be used as an office.

Rhode Island is a great option for remote workers for a few reasons.

• First, it is close to Boston and New York – major cities with lots of job opportunities. It’s also easy to get to from Rhode Island – you can drive, take the train, or fly into either city.
• Second, Rhode Island has a lot of variation in its geography. There are the urban areas like Providence and Newport, as well as rural areas and beaches. This is attractive to people who want to have access to both city life and nature.
• Finally, Rhode Island boasts impressive social amenities, including world class academic institutions, beautiful hiking on the coast as well as by lakes and woods, plus one of the best restaurant scenes in the entire country.

If you’re looking for the ideal place to work remotely, Rhode Island is a great option. It’s close to major cities, has a variety of landscapes, and is full of things to do. Out of state? Contact us to learn why Rhody might just be for you