Single-Family Rentals Still on the Rise
Single-family rental homes are on the rise in communities nationwide in the aftermath of the housing meltdown.
In 32 of the country's top metropolitan regions, at least 20 percent of all occupied single-family homes were rentals in 2012. According to a USA Today analysis of U.S. Census Bureau data, that is up from just seven metros in 2006.
Researchers say the growth reflects changes brought by the housing bust and the enduring financial hardships ushered in by the Great Recession. Nationwide last year, 18 percent of occupied single-family homes were rentals — an increase from almost 15 percent in 2006.
The metro areas with the most growth in single-family rentals are those where foreclosures were most prevalent, including Las Vegas, Florida's Cape Coral area, and Stockton, Calif. Metros outside the top foreclosure hot spots have also seen bigger growth in single-family rentals than the national average, including Memphis, Dallas, and Denver.
Source: "In More Homes, The Roof Overhead Is Rented," USA Today (Oct. 21, 2013)
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