RENTAL DEMAND: GROWTH IN RENTER HOUSEHOLDS AT 50-YEAR HIGH

     

    According to a recently published report from Harvard University, roughly 9 million households have been added to the renter population in the past 10 years, bringing the total number of renters in the US to 42.6 million.  This is, “the largest increase over any 10-year period dating back to 1965.”

    In fact, renting has increased among all age groups and demographics.  This soaring demand is great news for real estate investors – especially because mobility rates among renters has declined significantly in recent years.  This means that renters are typically staying in their homes for longer periods of time.  This reduces the vacancy risk of owning investment property.

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