While millions of units are expected to be developed in the coming years, developers are expected to open 460,860 rentals by the end of December. However, a new RentCafe study revealed even that may not be enough to keep up the pace with surging nationwide rental demand as more and more Americans opt for renting over buying.
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HUD, Census Bureau Release 2021 Rental Housing Finance Survey
As housing availability scales up and down, new data from 2021 Rental Housing Finance Survey found that nearly 50% of rental units are in properties with four or fewer units. Meanwhile, an estimated 86% of all rental properties contain only one rental unit.
Read More »Rent Growth Rebounds in Major Tech Hubs
Rents have grown nationally at a double-digit annual pace for the second consecutive month, with major metros driven by tech jobs experiencing the greatest gains.
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