Americans are moving into newer homes, downsizing from larger properties, and seem more interested in leading simpler, apartment-focused lives. We’re witnessing a significant change in Apartment Rental Trends across the country.
Unquestionably, housing prices, COVID-19 shutdowns, renter defaults, or out-migration may have notably delayed the rental season this time by a few months. However, the American dream of homeownership is still very much alive and thriving.
Renters are willing to sacrifice square footage in hopes of lower rent, with the amenity race coming to a standstill. We’re also seeing urban renters moving outside metros. Yet, investors, landlords, and property managers look optimistic about the rental property market in 2021.
Here’s an interesting infographic we found by John Burns Real Estate Consulting that gives you more information on how the demographics are shifting between single-family and multifamily properties.
How Can Class A Management Help?
We’re a premium multifamily and commercial Property Management Company based in Texas. We specialize in property consultations, administrative management, financial management, operations, collections, maintenance, and more. With more than 30 years of expertise in providing practical solutions to renters, we can guide you through the entire investment life cycle. And, our skilled real estate professionals can help you put the apartment renting trends into a reality that benefits you in the long-term.