Housing Costs are Changing the Way People Choose Jobs

The high cost of housing is becoming a major factor in how people make career decisions. It’s not just about choosing where to live anymore—it’s also about deciding whether to switch jobs, work in-office, or stay with a company long-term.

A recent study of 800 employees and 200 employers highlights a growing trend: 61% of workers say they would leave their current job for one that offers housing benefits like help with rent or a down payment.

However, only 4% of employers currently provide such perks. Younger workers are especially interested in housing support, with 69% of Gen Z and 62% of millennials saying they’d jump ship for these benefits.
 

Housing Assistance Could Impact How People Work

For employees who work remotely, housing support could even convince them to return to the office. In fact, 52% of remote workers said they’d consider working in-office again if their employer helped pay for their housing.

Some employees are even willing to give up important benefits: 25% said they’d trade paid time off for housing support, and 38% said they would accept a pay cut—on average about 10%—if their employer helped them with housing costs.
 

Few Companies Offer Housing Help

Even though many employees are asking for housing assistance, most companies haven’t caught on yet. Only 10% of employers are considering offering housing perks, and just 4% are currently providing them.

Industries more likely to adopt these benefits include competitive fields like tech, legal, finance, healthcare, and marketing—areas where the cost of living is high and companies are trying hard to attract top talent.

Still, some employers are starting to believe housing benefits could become normal in the future. About 32% think housing perks will be standard in the next 10 years. But implementing these benefits isn’t easy. Many companies worry about costs—56% said housing perks are too expensive. Other employers are concerned about long-term liability (49%) and compliance issues (41%).

Some businesses might explore alternative options. About 35% of employers said they’d consider giving housing support instead of a salary increase, but only if employees agree to the trade-off.
 

Rising Housing Costs Are Affecting Workers and Employers

Expensive housing doesn’t just affect employees—it also impacts businesses trying to hire and keep good workers. Around 42% of employees have turned down better job offers because housing in the new location was too expensive. Concerns about relocation costs, housing availability, and the overall cost of living are making workers stay put.

For businesses in expensive cities, hiring is becoming a challenge. Around 40% of employers in high-cost areas say that housing prices are hurting their ability to attract and retain employees.

When asked to choose between a $5,000 raise, housing assistance, or unlimited paid time off, most workers still picked the raise. However, 25% chose housing assistance, and among Gen Z workers, that number was even higher at 29%. This shows that for younger employees, stability is increasingly more valuable than extra pay.

This trend highlights how housing costs are shaping the way Americans think about their careers and the benefits they value most.

As workers continue to explore the challenges many employees face with rising housing costs, it's clear that many are seeking assistance to make ends meet. If you’re feeling the pressure of increased rent, check out this comprehensive guide about where and how to access rental assistance.

-

Read more: What is a Condemned House, and Can You Buy One?