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Renters were expected to abandon downtowns and other urban areas. That's not what the data says.

Urban cores in Denver and Miami headline a surprise development boom
New apartments in downtown locations have seen unexpectedly strong demand from renters. Shown here is the Rockefeller Group's 250-unit Patten Gray building in Denver.(CoStar)
New apartments in downtown locations have seen unexpectedly strong demand from renters. Shown here is the Rockefeller Group's 250-unit Patten Gray building in Denver.(CoStar)
CoStar Analytics
December 11, 2024 | 9:34 P.M.

Conventional wisdom suggests that housing preferences underwent a seismic shift during the pandemic. As millions of white-collar professionals suddenly found themselves working from home, the expectations were clear: space would trump location when it came to renter preference in the future.

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