Report: Single-Family Rental Demand Is Outstripping Supply

Report: Single-Family Rental Demand Is Outstripping Supply

Demand for single-family rental housing is outstripping the available supply of homes, and some housing markets that have been hit hardest by the foreclosure crisis have seen rental demand jump by more than 25% in the past year, according to a report to be released Tuesday by real-estate firm CoreLogic.

It shouldn’t be surprising that single family rental demand has picked up in recent years: There are many families who have lost their homes to foreclosure or that can’t qualify for mortgages given tighter underwriting standards.

But the magnitude of rental-demand gains is still eye-opening. Markets that include Port St. Lucie, Fla.; Riverside, Calif.; and Tucson, Ariz., have all seen rental demand jump by 25% over the past year, and 22 of 30 markets tracked by CoreLogic have seen year-over-year leasing gains.

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One Response to “Report: Single-Family Rental Demand Is Outstripping Supply”
  1. Sarah says:

    Housing must be more available and affordable, and it is just that simple. Squalid tenements and slums may have been some pipe dream that the country thought they could put behind them in some earlier era, but they never went away, and frequently move up the class ladder to people who previously took it for granted. Pruitt Igoe, Robert Taylor homes, all the broken by design attempts to solve these problems over the years stands in depressing contrast to housing that was “gambled” out of reach for so many families. These same once hopeful families now find themselves either perched on the edge of crushing despair, searching for stability and resigning in defeat and to a future of permanent unstable, barely affordable soul destroying transience. Single family rentals are generally undesirable, sometimes awful. To suggest that they will be “bid up” is even more depressing.

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