Is there much demand among the American populace for rental housing?
Description: A brief overview of the demographic trends that relate to the demand for rental housing.
The demand is through the roof, to state it conservatively.
Just think about where we are demographically. On the one side, you have a huge mass of millennials who, more than any prior generation, actually PREFER to rent their housing rather than to own it. And on the other side, you have the Baby Boomers who are all long since empty nesters and many of whom rather love the idea of living somewhere where they don’t have to think about things like lawn care, routine maintenance and other chores of home ownership.
So we have these two HUGE demographic masses of people all clamoring for rental property… and on top of that you have to stack the relatively slow pace of construction in recent years as compared to demand for housing, and what you can predict is exactly what we see nearly nationwide: That there’s TREMENDOUS demand for rental housing.