Renters Are Swapping Out Apartments for Single-Family Homes

Renters are increasingly choosing to swap out their small apartments for more spacious single-family rental homes. According to a recent study from rental market platform Point2 Homes, about 60% of new single-family renters in March moved from an apartment. This put the share of renters who opt for single-family homes at a five-year high. This is especially true for households choosing three-bedroom homes, which is the most popular floor plan for those moving into single-family homes.

Supported by high-demand from Millennials as well as favorable economic conditions and vigorous job growth in many markets, single-family rentals are increasingly shaping up to be the solution to renters’ housing problems. Young people starting families, as well as professionals of all ages are increasingly let down by the crammed apartment life and the noisy hustle and bustle of busy urban hubs. As such, they’re becoming more and more attracted to the suburbs that promise more space, more privacy and better lifestyle opportunities. Read more