Very interesting Study published that discusses the National
Affordable Rental Housing Landscape. Typically,
the suburbs have been reserved for those who buy versus those who rent. However, the momentum is shifting as more
suburbanites have trended towards renting instead.
About 29 percent of suburbanites living outside the nation's 11
most populous cities were renters in 2014, up from 23 percent in 2006,
according to a report being released by New York University's Furman Center
real estate experts and the bank Capital One.
The financial aspect of owning a home since the crash may be the
biggest reason for this change but the cost to rent in larger metropolitan
areas has also increased.
The data provided by the study shows a rise in renters across
the nation for the past 10 years. The
study focuses on metropolitan areas surrounding and within cities with a
population density of at least 50,000 residents.
The study conflicts in some of the larger rental markets
nationwide where it has actually gotten more affordable to rent
Although the variance is getting shrinking, renting is still
more common in big cities then in their suburbs. In Miami, about 66% of residents are
Across the Nation, 37 percent of all households now rent, the
highest level since the mid-1960s, which is why demand now is higher than ever.
on the subject attribute the surge in tenants do to all the foreclosures, short
sales, loss of income and other financial struggles potential homeowners face in addition to stricter
mortgage qualifications and credit requirements by the lenders that came after the crash. The
banks have since gotten a bit better but even still, borrowing isn’t easy.
Ryan Scotson - Masters Realty
Posted on Wed, March 9, 2016
by Ryan Scotson