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![RENTING VS. SELLING TEXT]()
2018-01-26
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You may have heard that rental properties are a great investment, but have you heard why?
Renting out your home offers a number of advantages over selling -and the numbers don't lie. Here's a look at what makes rentals a profitable investment both immediately and for the future.
Check out some more great Rent Estate stats and financial benefits to renting out your home!
- Renters are outpacing homeowners.
- Growth in renters continues to outpace owners, with their numbers up by 600,000 in 2016.
- Homeownership rates are falling.
- According to the Census Bureau, the annual average homeownership rate for 2016 was 63.4 percent. That's the lowest since 1965 when the homeownership rate was 63 percent.
- Rents have been increasing steadily.
- In the third quarter 2017, the median asking rent for vacant for-rent units was $912.
- Rental investments are expected to perform well into the foreseeable future as demand continues to rise.
- The market is experiencing strong renter growth.
- More U.S. households are renting than at any point in 50 years.
- The total number of households in the United States grew by 7.6 million between 2006 and 2016. But over the same period, the number of households headed by owners remained relatively flat.
- Renters are a diverse group.
- While young adults -those younger than 35 continue to be the most likely of all age groups to rent, rental rates have also risen notably among those ages 35 to 44 as well as among households headed by someone ages 45 to 64.
- Demand for rentals is expected to continue to climb.
- It's estimated that between 2010 and 2030, there will be 4 million more new renters than homeowners. An estimated 22 million new households will need homes to rent or buy, 13 million will rent, but only 9 million are expected to buy.
- It's estimated that between 2010 and 2030, there will be 4 million more new renters than homeowners. An estimated 22 million new households will need homes to rent or buy, 13 million will rent, but only 9 million are expected to buy.
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