- Analysis from RealPage revealed the biggest changes in effective asking rents, factoring in landlord concessions, between Q3 2019 and Q3 2020
- Rent has plummeted in high-cost cities including New York, San Francisco, Los Angeles and Boston as many fled in the height of the pandemic
- Rent in San Francisco fell 11% driven in part by an exodus of Silicon Valley workers out of the notoriously expensive Bay Area
- Several tech giants including Google and Facebook extended their remote working policies until at least 2021
- New York City rent fell 8.5% as residents fled the Big Apple when it became the virus epicenter of the world and many are yet to return Â
- Many have packed up for good as they lost jobs in the tourism, entertainment and restaurant industries that used to be the lifeblood of the cityÂ
- Areas that were less popular in pre-pandemic times have seen a surge in annual effective rent with rent in Riverside, Sacramento and Memphis on the rise  Read more via DailyMail