Baby Boomers are Feasting on Single-Family Rental Homes

The stigma of not owning a home is no longer a stigma, especially for Baby Boomers who want to downsize. Many of them are growing tired of the upkeep needed for their large houses.

And builders have taken note.

According to the National Association of Home Builders, the number of newly built, single-family rentals was up from 37,000 in 2017 to 43,000 in 2018. And the expectation is that single-family construction will rise 6% this year.

Rick Palacios Jr., director of research at John Burns Real Estate Consulting says that most of the new construction is happening in the suburbs of Southern states, stretching from Arizona through Texas and into Florida

“The stigma of renting has gone away,” says Palacios. “Fewer and fewer people think you need to own a home to make it.”

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Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.