Although the total number of built-for-rent share of single-family homes (only 28,000 homes were started in the last year) is a low percentage of the single-family home portion of the rental housing stock, the increase is indicative of the demand for rental units overall. The low inventory of homes for sale has pushed prices beyond the reach of many would-be home buyers, as tight credit and student debt—especially among would-be first-time homebuyers– has reduced the ability of many to save enough for a down payment, resulting in demand for rental units.
(Photo credit: nakedphilly–home under construction)
