Rent Rate Grows For Single-Family Homes

August 3, 2016

More single-family homes are being rented, and more rentals are single-family homes.

A Zillow report found that, in 2015, 18.8 percent of single-family homes were rentals. The rate has risen over the years, particularly since the recession. The share was 13.4 percent in early 2007.

Meanwhile, 36.5 percent of all rentals in 2015 were single-family homes. In 2007, the rate was 30.5 percent, while in the 1980s and 90s it hovered near 25 percent.

The report found that the increases in single-family home rentals is most prominent in the Southwest, such as cities like Las Vegas, Phoenix, and Merced, Calif. Also, cities that have high foreclosure rates tend to rent more houses.

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