Real estate rental facts. This is a list of interesting facts about real estate rental. Real estate is the most important part of every country’s economy and for good reason. Who wouldn’t want to be able to rent out their property in good weather and bad, at affordable prices? In some places around the world, people have no choice but to rent their homes or apartments out; in others, it’s a very common practice. We’ve compiled a list of helpful real estate facts for those considering buying or renting an apartment or home in particular:
1.According to the most recent rent vs. buy data from Realtor.com, rental costs increased in 65% of US counties in Q1 2020, with 7 California counties ranked among the top 10 counties where renting is more affordable.
2.Between 2007 and 2017, the proportion of people over 60 who rent climbed by 43% as aging Baby Boomers downsized and opted to rent rather than buy.
3.Three Sun Belt towns, Miami, Phoenix, and Las Vegas, saw the fastest single-family rent growth in the US, with annual rent increases of 21.4%, 19.2%, and 15.4%, respectively.(Arbor)
4.In the US as a whole, annualized rent rise on vacant-to-occupied SFRs increased by more than 17%, driven up by suburban migration and a competitive housing market.(Arbor)
5.During the pandemic, Florida saw the highest rises in single-family rents; between March 2020 and October 2021, rates in Sarasota, Port St. Lucie, and Daytona Beach increased by more than 50% on average.
6.More than 45% of households with renters pay rent that is at least 30% of their gross household income.
7.Single-family houses make up around one-third of all rental properties in the US, and between 2008 and 2018, the number of SFRs increased by 18%.(Joint Center for Housing Studies of Harvard University)
8.To build homes for those who choose to rent, investment capital is shifting from multifamily to single-family build-to-rent communities.
9.In the US, there are over 44 million housing units that are rented out, with single-family houses accounting for 41% of all rented housing.
To learn more about real estate rental and how we can help you ease your business contact us today!