GITNUX MARKETDATA REPORT 2024

Must-Know Rental Market Statistics [Latest Report]

Highlights: The Most Important Rental Market Statistics

  • In 2021, the global rental market size is valued at around USD 1.87 trillion.
  • The US rental market is expected to grow at a compound annual growth rate (CAGR) of 2.8% between 2021 and 2026.
  • Approximately 36% of US households were renters in 2020.
  • In Europe, the average rental growth rate in premium properties increased by 0.8% in 2020.
  • Rental vacancy rate in the US was 5.5% in Q4 of 2020.
  • In 2020, 49.3% of the renter households in the US were rent-burdened, i.e., spent more than 30% of their income on rent.
  • In 2020, the median rent-to-income ratio in the US reached 29.2%.
  • The rental market in Germany makes up for almost 57.2% of households in 2021.
  • In 2020, the average rent for a one-bedroom apartment in London was priced at £1,435 per month.
  • The average apartment rent in Canadian cities increased by 2.2% in 2020.
  • In 2020, approximately 53% of urban households in China preferred to rent homes instead of buying.
  • In 2020, the Australian rental market saw a vacancy rate increase by an average of 1.8% nationwide.
  • In 2021, the average rent for an apartment in Tokyo is $1,019 per month.
  • In 2020, the average rental yield in the United Kingdom was around 3.6%.
  • In 2020, approximately 30% of renters in the US had a poor credit score, i.e., credit scores below 600.
  • In 2020, it was found that 34.3% of properties in the US are renter-occupied, and 63.6% are owner-occupied.
  • In 2020, the average time it took to rent a property in the UK was 22 days.

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The rental market is an ever-evolving sector that has seen significant growth in recent years. According to Grand View Research, the global rental market size was valued at around USD 1.87 trillion in 2021 and is expected to grow further over the coming years. In the US alone, it is estimated that 36% of households were renters in 2020 and this number is projected to increase by 2.8% annually between 2021 and 2026 according to Fortune Business Insights. Similarly, Europe saw a 0.8% average rental growth rate for premium properties last year while rent prices across other countries such as Canada increased by 2%.
In addition, data from Apartment List shows that on average monthly rents are currently priced at $1124 per month in the US with a vacancy rate of 5.5%, whereas 49% of renter households are considered rent burdened (spending more than 30 percent of their income on housing). The median rent-to-income ratio also reached 29%. On top of this, Germany’s residential real estate investment makes up 57 %of its total household population while Londoners pay £1435/month for one bedroom apartments on average; Tokyo residents have an even higher price tag with $1019/month being charged for similar sized units there. Furthermore single family rentals (SFR) make up 3$4 trillion worth investments opportunities within America’s housing industry today whilst 34 %of all properties remain occupied by tenants rather than owners – taking 22 days typically before they can move into their new home. Finally credit scores below 600 still account for 30 %renters despite millennials planning 32 %renting long term instead buying property outright .
All these statistics demonstrate just how much potential lies within our current rental markets worldwide – making them attractive prospects both now and well into future too.

The Most Important Statistics
In 2021, the global rental market size is valued at around USD 1.87 trillion. This statistic is a testament to the sheer size and scope of the rental market, highlighting its immense potential for growth and development. It is a powerful indicator of the market’s current state and its future prospects, making it an invaluable resource for anyone looking to gain insight into the rental market. As such, it is an essential piece of information for any blog post about rental market statistics. The US rental market is expected to grow at a compound annual growth rate (CAGR) of 2.8% between 2021 and 2026. This statistic is a crucial indicator of the future of the US rental market, providing insight into the potential for growth and expansion over the next five years. It is an essential piece of information for anyone interested in the rental market, as it can help inform decisions about investments, strategies, and more. As such, it is an invaluable resource for a blog post about rental market statistics.

Rental Market Statistics Overview

Approximately 36% of US households were renters in 2020.

This statistic is a telling indication of the current state of the rental market in the US. It shows that a significant portion of the population is relying on rental housing, which can be a sign of a tight housing market or a lack of affordable homeownership options. This statistic is an important piece of information for anyone looking to understand the rental market in the US.

In Europe, the average rental growth rate in premium properties increased by 0.8% in 2020.

This statistic is a telling indication of the rental market in Europe, particularly in premium properties. It shows that despite the economic downturn caused by the pandemic, the rental growth rate in these properties has remained steady, indicating that the rental market is still strong. This is an important insight for anyone looking to invest in the rental market in Europe, as it shows that there is still potential for growth.

Rental vacancy rate in the US was 5.5% in Q4 of 2020.

The rental vacancy rate in the US at the end of 2020 was a telling 5.5%. This figure speaks volumes about the state of the rental market, providing insight into the availability of rental properties and the demand for them. This statistic is an important indicator of the health of the rental market and can be used to inform decisions about rental investments and pricing.

In 2020, 49.3% of the renter households in the US were rent-burdened, i.e., spent more than 30% of their income on rent.

This statistic is a stark reminder of the reality of the rental market in the US. It highlights the fact that nearly half of all renter households are struggling to make ends meet, as they are spending more than 30% of their income on rent. This statistic is a powerful indicator of the financial strain that many renters are facing, and it is an important factor to consider when discussing rental market statistics.

In 2020, the median rent-to-income ratio in the US reached 29.2%.

This statistic is a telling indicator of the state of the rental market in the US. It reveals that the average American is spending a significant portion of their income on rent, which can have a major impact on their financial stability. This statistic is a key piece of information for anyone looking to understand the current rental market and the challenges faced by renters.

The rental market in Germany makes up for almost 57.2% of households in 2021.

This statistic is a powerful indicator of the importance of the rental market in Germany. It shows that a majority of households in the country are relying on rental housing, which speaks to the strength of the rental market in the country. This statistic is essential for understanding the current state of the rental market in Germany and provides valuable insight into the trends and dynamics of the market.

In 2020, the average rent for a one-bedroom apartment in London was priced at £1,435 per month.

This statistic is a telling indication of the rental market in London, providing insight into the average cost of renting a one-bedroom apartment in the city. It is an important piece of information for anyone looking to rent in London, as it gives them an idea of what to expect in terms of pricing. Furthermore, it can be used to compare the rental market in London to other cities, giving a better understanding of the overall rental market.

The average apartment rent in Canadian cities increased by 2.2% in 2020.

This statistic is a telling indication of the state of the rental market in Canadian cities in 2020. It shows that despite the economic downturn caused by the pandemic, rental prices still managed to increase, albeit at a slower rate than in previous years. This statistic is an important piece of information for anyone looking to gain insight into the rental market in Canada.

In 2020, approximately 53% of urban households in China preferred to rent homes instead of buying.

This statistic is a telling indication of the current state of the rental market in China. It shows that a majority of urban households are opting to rent rather than buy, which could be due to a variety of factors such as affordability, convenience, or lifestyle preferences. This statistic is important to consider when discussing rental market statistics, as it provides insight into the current trends and preferences of urban households in China.

In 2020, the Australian rental market saw a vacancy rate increase by an average of 1.8% nationwide.

This statistic is indicative of a larger trend in the Australian rental market – an increase in vacancy rates. This is significant because it suggests that more rental properties are becoming available, which could lead to more competitive prices and better rental options for tenants. Additionally, it could be a sign of a healthier rental market overall, as more properties become available for tenants to choose from. This could be beneficial for both landlords and tenants, as it could lead to more stable rental prices and better rental conditions.

In 2021, the average rent for an apartment in Tokyo is $1,019 per month.

This statistic is a telling indicator of the rental market in Tokyo, providing insight into the cost of living in the city. It is an important piece of information for anyone considering renting an apartment in Tokyo, as it gives them an idea of what to expect in terms of monthly expenses. Additionally, this statistic can be used to compare rental prices in Tokyo to other cities, giving readers a better understanding of the rental market in the area.

In 2020, the average rental yield in the United Kingdom was around 3.6%.

The average rental yield in the United Kingdom in 2020 was a telling statistic, providing insight into the state of the rental market. It serves as a barometer of the market’s health, indicating whether it is a good time to invest in rental properties or not. This statistic is especially important for those looking to invest in the rental market, as it can help them make informed decisions about their investments.

In 2021, single-family rental (SFR) market is one of the fastest-growing segments in the US housing market, with an estimated market value of $3.4 trillion.

This statistic is a testament to the immense potential of the SFR market in the US. It highlights the fact that the SFR market is a lucrative investment opportunity, with an estimated market value of $3.4 trillion. This statistic is important to consider when discussing rental market statistics, as it provides insight into the current state of the market and its potential for growth.

In 2020, approximately 30% of renters in the US had a poor credit score, i.e., credit scores below 600.

This statistic is a telling indication of the current state of the rental market in the US. It suggests that a significant portion of renters are struggling to keep up with their financial obligations, which could be a sign of a larger issue in the rental market. This could mean that landlords are having difficulty finding reliable tenants, or that renters are having difficulty finding affordable housing. Either way, this statistic is an important indicator of the current state of the rental market and should be taken into consideration when discussing rental market statistics.

In 2020, it was found that 34.3% of properties in the US are renter-occupied, and 63.6% are owner-occupied.

This statistic is a crucial indicator of the rental market in the US, as it provides insight into the proportion of properties that are occupied by renters versus owners. It is an important piece of information for anyone looking to understand the dynamics of the rental market, as it can help inform decisions about rental prices, availability, and other factors.

In 2020, the average time it took to rent a property in the UK was 22 days.

This statistic is a telling indication of the current state of the UK rental market. It highlights the speed at which properties are being snapped up, suggesting that the market is highly competitive and that demand is high. This is an important insight for anyone looking to rent a property, as it gives them an idea of how quickly they need to act in order to secure a rental.

Conclusion

The rental market is a dynamic and ever-evolving sector, with different trends emerging in various countries around the world. The statistics presented here demonstrate that the global rental market size was valued at USD 1.87 trillion in 2021, while US renters are expected to grow at a CAGR of 2.8% between 2021 and 2026. In 2020, approximately 36% of US households were renting their homes, while 49.3% of renter households were rent-burdened – spending more than 30% of their income on rent payments each month.
In Europe, average rental growth rate for premium properties increased by 0.8%, whereas in Germany 57.2 %of all households rented property as opposed to owning it outright or buying it through mortgages or other financing options available there . Similarly ,in Canada urban household rents rose by an average 2%. On the other hand ,the UK saw an increase in vacancy rates due to Covid 19 pandemic which resulted into 22 days being taken for renting out any property .
Overall these figures show us how much demand exists within this industry despite economic downturns such as those caused by COVID-19; they also highlight some key areas where improvements can be made so that people have access to affordable housing solutions without having to sacrifice too much financially every month just for basic shelter needs

References

0. – https://www.nordicpropertynews.com

1. – https://www.sqmresearch.com.au

2. – https://www.statista.com

3. – https://www.grandviewresearch.com

4. – https://www.prnewswire.com

5. – https://www.thediplomat.com

6. – https://www.reports.nlihc.org

7. – https://www.landlordtoday.co.uk

8. – https://www.worldpopulationreview.com

9. – https://www.census.gov

10. – https://www.fortunebusinessinsights.com

11. – https://www.experian.com

12. – https://www.fred.stlouisfed.org

13. – https://www.rethinktokyo.com

14. – https://www.savills.co.uk

FAQs

What has been the average growth rate for rental prices over the past decade?

The average growth rate for rental prices over the past decade varies regionally but has been approximately 3% to 5% per year on a national level.

How has the emergence of online platforms such as Airbnb impacted the traditional rental market?

The emergence of online platforms like Airbnb has led to an increased supply of short-term rentals, often causing an upward pressure on long-term rental prices due to the reduced number of available, traditional rental options.

What are the primary factors that influence rental prices in a given market?

Primary factors influencing rental prices include supply and demand, population growth, economic factors (e.g., employment rates and income levels), and region-specific factors such as property taxes, housing regulations, and local amenities.

How have the COVID-19 pandemic and remote work trends affected the rental market?

The COVID-19 pandemic and remote work trends have led to a shift in rental demand from high-cost, urban areas to more affordable suburban and rural areas, as employees seek more space and lower living costs without the need for proximity to workplaces.

What is the current state of the rental market in terms of vacancy rates and rent affordability for the average household?

The current state of the rental market varies significantly depending on location. In some areas, vacancy rates have increased due to shifts in demand, leading to more affordable rents for tenants. In other areas where demand outpaces supply, rents continue to rise, and affordability remains a significant concern for many households.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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