The Most Surprising Single Family Rental Statistics And Trends in 2024

The US single-family rental market is a growing sector of the housing industry. According to CoreLogic, it accounts for approximately 16% of all US rental housing. There are an estimated 20.1 million single-family rentals in the United States and 3% of new homes built in 2019 were constructed as rentals. Millennials make up the largest group of renters within this market, with 95% occupancy rate annually and home sizes decreasing by 4%.

Individual landlords manage 40% of these properties while institutional investors own roughly 2%. In 2020, construction grew by 4.4%, 65% would consider building one on their property to generate extra income, rent growth increased 6.6%, only 5% have been homeowners before renting and 62 % have lived there more than two years during COVID-19 pandemic when demand rose causing prices to increase too . Families represent 48 percent tenants making Atlanta , Phoenix , Houston & Orlando top markets in 2017 where 1 000 new units were completed that year with average rents increasing 3 1 %

Single Family Rental Statistics Overview

40% of single-family rentals are managed by individual landlords.

This statistic is significant in the context of single-family rental statistics because it highlights the prevalence of individual landlords in the rental market. It demonstrates that a large portion of the rental market is made up of individual landlords, rather than large-scale property management companies. This is important to consider when discussing the rental market, as it can have implications for the availability of rental properties, the cost of rent, and the quality of rental properties.

65% of survey respondents would consider building a single-family rental in their backyard to generate extra income.

This statistic is a powerful indicator of the potential of single-family rental investments. It shows that a majority of survey respondents are open to the idea of building a single-family rental in their backyard, suggesting that there is a strong demand for this type of investment. This statistic is an important piece of evidence that can be used to support the argument that single-family rental investments are a viable option for generating extra income.

Single-family rentals appreciated at a higher rate compared to apartment rentals during the COVID-19 pandemic.

This statistic is a testament to the resilience of single-family rentals during the COVID-19 pandemic. It shows that despite the economic downturn, single-family rentals were able to maintain their value and even appreciate at a higher rate than apartment rentals. This is an important point to consider when discussing the stability of single-family rental investments.

Single-family rental rent growth increased by 6.6% during Q2 2021.

The 6.6% increase in single-family rental rent growth during Q2 2021 is a clear indication that the single-family rental market is continuing to grow and expand. This statistic is a testament to the strength of the single-family rental market and its ability to remain resilient in the face of economic uncertainty. It is also a sign that the single-family rental market is becoming an increasingly attractive option for those looking for a stable and reliable source of income. This statistic is a reminder that the single-family rental market is a viable and profitable investment opportunity.

Institutional investors own roughly 2% of single-family rentals.

The fact that institutional investors own roughly 2% of single-family rentals is a telling statistic that speaks to the potential of this asset class. It suggests that even though single-family rentals are still relatively new, they are already being recognized as a viable investment opportunity by some of the biggest players in the market. This statistic is a sign that single-family rentals are here to stay and could be a great way for investors to diversify their portfolios.

Only 5% of single-family rental tenants have been homeowners in the past.

This statistic is significant in the context of single-family rental statistics because it highlights the fact that the majority of tenants in this market are not former homeowners. This indicates that the single-family rental market is providing an important housing option for those who may not have the means or desire to purchase a home. It also suggests that the single-family rental market is an increasingly attractive option for those who may not have the financial resources to purchase a home.}

Demand for single-family rentals increased during the COVID-19 pandemic, causing prices to rise.

This statistic is a telling sign of the times, highlighting the impact of the COVID-19 pandemic on the single-family rental market. It demonstrates how the pandemic has caused an increase in demand for single-family rentals, resulting in a rise in prices. This is an important statistic to consider when discussing the current state of the single-family rental market.

Families are the largest group of single-family rental tenants, representing 48%.

This statistic is significant in understanding the single-family rental market, as it highlights the fact that families are the most common type of tenant in this sector. This indicates that single-family rental properties are an important source of housing for families, and that the demand for such properties is high. Furthermore, this statistic can be used to inform policy decisions and investments in the single-family rental market, as it provides insight into the needs of the tenants.

As of 2017, the number of single-family rentals has grown by more than 43% since 2005.

This statistic is a powerful indicator of the growing popularity of single-family rentals. It shows that more and more people are choosing to rent single-family homes instead of buying them, which is a trend that has been steadily increasing over the past decade. This is an important statistic to consider when discussing the current state of the single-family rental market, as it provides insight into the growing demand for this type of housing.

Conclusion

The single-family rental market is a growing sector of the US housing industry. According to statistics, it accounts for 16% of all rentals in the United States and there are approximately 20.1 million single-family rentals across the country. Millennials make up the largest group of renters in this market, with an annual occupancy rate of 95%. Home sizes have decreased by 4%, while 40% are managed by individual landlords and 65% would consider building one themselves to generate extra income.

In 2020, construction grew by 4.4%, rent growth increased 6.6%, and demand surged during COVID-19 causing prices to rise as well; only 5% were former homeowners but 62% had lived at their current residence for more than two years on average – indicating that they prefer renting over buying a home or moving frequently due to job changes or other reasons such as lifestyle preferences or financial constraints . Institutional investors own roughly 2%. Atlanta, Phoenix, Houston and Orlando were identified as top markets in 2017 when 1,000 new homes were completed that year alone – showing how much potential exists within this sector despite its relatively small size compared to apartments (3%).

Overall these statistics demonstrate just how important single family rental properties can be both economically and socially: providing affordable housing options for families who may not otherwise be able afford them while also offering opportunities for individuals looking into investing in real estate either through ownership or management services provided by companies like CoreLogic Great Star Howard LLC which recently acquired several SFRs nationwide..

References

0. – https://www.housingwire.com

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2. – https://www.planetizen.com

3. – https://www.propertyware.com

4. – https://www.brookfield.com

5. – https://www.nahb.org

6. – https://www.zillow.com

7. – https://www.cnbc.com

8. – https://www.bloomberg.com