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States Selling Pot Legally Attract Renters In Their Droves

Posted by: In: Real Estate 18 Apr 2014 Comments: 0 Tags: ,

Apparently, legalizing marijuana can do wonders for the rental market.

While Washington, D.C., and New York City remain the top destinations for recent college grads, more renters are flocking to Colorado and Washington state — both of which made it legal to smoke pot starting Jan. 1.

photo credit: louisa_catlover via photopin cc

According to rental site Apartment Guide, searches for rental apartments in the dope-friendly states have seen a particular resurgence in the last five months. Properties listed in Colorado saw an increase of 26.27 percent in unique visitors between November 2013 and March 2014 compared to the same time period one year earlier, Apartment Guide reports. Washington saw an increase of 24.51 percent.

Both states bested the increase in searches across all other states, which averaged 19.5 percent.

Voters in Colorado and Washington approved referendums in each state to legalize recreational use of marijuana in November 2012. The legal sale of marijuana in both states began Jan. 1.

Apartment Guide also points out other things that are drawing renters to the two states:

Quality of life: Colorado and Washington both landed on the top 10 list for states with the highest well-being in 2013, according to the Gallup-Healthways Well-Being Index. …read more

Source: Realtybiznews



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