The Bank of America Institute found the top eight cities where people are moving for cheaper rent.
"Consumers would rather pack their bags than pay a higher rent, and that can play out in two ways," Joe Wadford, an economist at the Bank of America Institute, tells CNBC Make It.
Cleveland, Ohio Ken Redding | The Image Bank | Getty ImagesTop 8 U.S. cities where people are moving for cheaper rentCleveland, OhioIndianapolis, Ind.
The state of Ohio had two cities land in the top 8 on the Bank of America Institute list.
The city is home to major sports teams like the Cleveland Cavaliers, the Cleveland Guardians, and the Cleveland Browns.
Persons:
Major metropolises, Joe Wadford, Wadford, Cleveland , Ohio Ken Redding, Bill Dickinson
Organizations:
of America Institute, Bank of America Institute, Bank of America, Las Vegas , Nevada Eyeem Mobile, Istock, Getty, CNBC, Bank, Cleveland, Cleveland Cavaliers, Cleveland Guardians, Cleveland Browns, Roll Hall of Fame, Cleveland Museum of Art, Columbus, Columbus Ohio Sky
Locations:
Las Vegas , Nevada, West, Northeast, New York, Boston, San Francisco, San Jose, Los Angeles, Cleveland , Ohio, Cleveland , Ohio Indianapolis, Ind, Las Vegas, Nev, Columbus , Ohio Jacksonville, Fla, Austin , Texas Phoenix, Ariz, Nashville, Tenn, Ohio, U.S, Columbus Ohio