Renter Demographic Changing

crowdAs our population changes, more Americans choose to rent their homes.

However, there is a growing disconnect between our national housing policy and our changing housing needs, according to the National Multi Housing Council (NMHC).

The coming boom in construction gives us a golden opportunity to get from where we are to where we need to be: creating thriving, healthy and sustainable communities, said NMHC President Doug Bibby. According to NMHC, there is a tremendous opportunity to create thriving and sustainable communities”but only if we change our thinking about rental housing and renters.

The U.S. is on the cusp of fundamental change in our housing dynamics as changing demographics and changing housing preferences drive more people away from the typical suburban house and toward the type of housing that rental housing offers, added Bibby. Families with children made up more than half of households decades ago, but they made up only one-third of households in 2000, and by 2025, they will be closer to one-fifth.

In their place are growing numbers of households who are more likely to choose renting”single parents, couples without children and empty nesters. By 2025, singles and unrelated individuals living together will comprise forty percent of households.

Bibby presented these statements to attendees from more than 220 companies as the keynote address at the National Apartment Summit in Tysons Corner, VA on September 20, where he made four key points:

America wants rental housing.

America needs rental housing.

Renters”whether affordable renters or lifestyle renters”are not second-class citizens.

There is a growing disconnect between America’s housing needs and its current housing policy.

The speech, entitled A New Housing Policy:Imagine the Possibilities is available as a PowerPoint at no charge to everyone, including those interested in sharing it with local policymakers.

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