Is the U.S. Becoming a Renter Nation?
But as the dream of ownership evaporated, the change offered people the freedom to choose a place to live that fit their lifestyle — locations reflecting the heart, close to favorite haunts. They realized that renting provides more flexibility to pursue career opportunities. Young and old alike found that the maintenance-free lifestyle of apartments provides simplicity.
According to the report, suburban family homeowners will comprise less than a quarter of the population, while University of Utah Professor Arthur C. Nelson estimates that between 2008 and 2015, nearly two-thirds of new households formed will be renters–six million new renter households.
And, there are reasons to believe that the new normal favors more long-term renters and more renters by choice — a much-welcomed ray of sunshine for landlords coming out of a period of high vacancies and rent concessions.
To view the report, including an interactive version, visit 2010 NMHC Annual Report: Renter Nation.
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American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
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