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Good News for Investors: A New Generation of Renters? By Harold Willig

Renter-occupied homes made up 35% of all American households according to the U.S. Census Bureau.

Knowledge of renter demographics is helpful for SpringView Investments, and our investors, as we seek to find stable long-term renter and to reduce vacancies.

According to the infographic below created by Rentec Direct, a property management software company, 45% of renters lived alone; 34% were Millennials between 18 and 33 years old; and 29% were Baby Boomers (age 50+).

While slightly more than half (53%) preferred traditional apartments, 50% valued proximity to school or work a primary decision factor, and one in four would pay more for covered parking.

Money, or lack it, may keep Millennials in the rental market, according to a study by the Harvard University Joint Center for Housing Studies (JCHS).

“Tight mortgage credit, the decade-long falloff in incomes that is only now ending, and a limited supply of homes for sale are all keeping households — especially first-time buyers on the sidelines,” said Christopher Herbert, the JCHS managing director. The report also stated that young people are choosing to delay marriage and are in general not moving out of their parent’s basements.

For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at 917-209-4452.

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