There’s been a lot of buzz around what is now commonly known as the “Great Resignation”. Whether these factors are from caregiving roles, ongoing COVID outbreaks, regional shutdowns or restrictions, or from the impacts of a stress-wearied and bold new society seeking to re-define their lifestyles, one thing is clear: it’s happening at a significant rate.
As real estate investors, these trends must be monitored as employment rates and housing demand are two factors that generally go hand-in-hand. Not only do real estate investors need to be reasonably assured tenants are employed and able to make their rent payments in full and on time, but the trends are important indicators of which markets are recovering strongly and likely to thrive more, over other markets that are experiencing significant economic, and therefore housing, demand shifts.
So, which states are thriving and moving forward, and which are struggling? Let’s take a look:
The 5 States with the Lowest Quit Rates:
5. North Dakota
- Quit Level (Oct. 2021): 13,000
- Percentage of Renters Statewide: 38.67%
- Average Rent: $804
4. South Dakota
- Quit Level (Oct. 2021): 13,000
- Percentage of Renters Statewide: 32.18%
- Average Rent: $769
3. Alaska
- Quit Level (Oct. 2021): 10,000
- Percentage of Renters Statewide: 35.26%
- Average Rent: $1,201
2. Vermont
- Quit Level (Oct. 2021): 10,000
- Percentage of Renters Statewide: 29.12%
- Average Rent: $980
1. Wyoming
- Quit Level (Oct. 2021): 9,000
- Percentage of Renters Statewide: 28.12%
- Average Rent: $822
The 5 States with the Highest Quit Rates:
5. North Carolina
- Quit Level (Oct. 2021): 157,000
- Percentage of Renters Statewide: 34.69%
- Average Rent: $931
4. New York
- Quit Level (Oct. 2021): 173,000
- Percentage of Renters Statewide: 46.48%
- Average Rent: $1,309
3. Florida
- Quit Level (Oct. 2021): 260,000
- Percentage of Renters Statewide: 33.75%
- Average Rent: $1,238
2. California
- Quit Level (Oct. 2021): 396,000
- Percentage of Renters Statewide: 45.14%
- Average Rent: $1,614
1. Texas
- Quit Level (Oct. 2021): 455,000
- Percentage of Renters Statewide: 38.12%
- Average Rent: $1,091
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About Ellie Perlman
Ellie Perlman is the founder and CEO of Blue Lake Capital, a woman owned multifamily real estate investment firm focused on partnering with family offices and accredited investors to build and preserve generational wealth. Since its founding in 2017, Blue Lake has successfully acquired and operated multifamily assets across high-growth U.S. markets, completing $1B+ in transactions.
At Blue Lake Capital, Ellie and her team work exclusively with family offices and accredited investors, offering carefully curated investment opportunities that emphasize long-term wealth creation, stability, and risk-adjusted returns. A defining aspect of Blue Lake’s investment strategy is its integration of advanced AI-driven analytics and data science into the entire lifecycle of acquisitions and asset management. By leveraging cutting-edge technology, the firm executes data-driven forecasting on market trends, asset performance, and tenant behavior, ensuring strategic decision-making and optimized returns.
In addition to leading Blue Lake Capital, Ellie is the original founder and host of "REady2Scale - Real Estate Investing" podcast, which provides insights into multifamily real estate, alternative investments, and finance.
Ellie began her career as a commercial real estate attorney, structuring and negotiating complex transactions for one of Israel’s leading development firms. She later transitioned into property management, overseeing over $100M in assets for Israel’s largest energy company.
Ellie holds a Master’s in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.
You can learn more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.
At Blue Lake Capital, Ellie and her team work exclusively with family offices and accredited investors, offering carefully curated investment opportunities that emphasize long-term wealth creation, stability, and risk-adjusted returns. A defining aspect of Blue Lake’s investment strategy is its integration of advanced AI-driven analytics and data science into the entire lifecycle of acquisitions and asset management. By leveraging cutting-edge technology, the firm executes data-driven forecasting on market trends, asset performance, and tenant behavior, ensuring strategic decision-making and optimized returns.
In addition to leading Blue Lake Capital, Ellie is the original founder and host of "REady2Scale - Real Estate Investing" podcast, which provides insights into multifamily real estate, alternative investments, and finance.
Ellie began her career as a commercial real estate attorney, structuring and negotiating complex transactions for one of Israel’s leading development firms. She later transitioned into property management, overseeing over $100M in assets for Israel’s largest energy company.
Ellie holds a Master’s in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.
You can learn more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.
*The content provided on this website, including all downloadable resources, is for informational purposes only and should not be interpreted as financial advice. Furthermore, this material does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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