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Number of Americans renting hits 50-year high

Published 07/20/2017, 10:11 AM
© Reuters.  Number of Americans renting hits 50-year high
AVB
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EQR
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AIV
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CSR
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MAA
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ESS
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APTS
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UDR
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CPT
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BRG
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IRT
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NXRT
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  • The percentage of households renting rose to just under 37% last year, according to Pew Research. That's vs. 31% in 2006, and just less than the 37% seen all the way back in 1965.
  • While the groups that have historically tended to rent - young adults, nonwhites, and the lesser educated - continue to do so, Pew found rising rates of renters among traditional buyers like whites and middle-aged adults.
  • The reasons are well-known - home prices are back on the rise, and wages aren't keeping up, particularly in the more expensive coastal markets.
  • Included in the data is interesting news for Airbnb (Private:AIRB) fans ... there are a lot of unoccupied rooms out there - renting these out could generate $14K-$24K for the strapped homeowner.
  • Apartment REITs of interest: EQR, AVB, ESS, UDR, AIV, CPT, MAA, IRET, NXRT, APTS, IRT, BRG
  • Now read: I'm Glad I Took A Bite Out Of This Georgia Peach


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