Single-Family Rental Homes Gain as People Flee Cities
Fifty-nine percent of new single-family rental home residents relocated from urban residential environments in the third quarter.
December 8, 2020 | Les Shaver | GlobeSt.com
The migration from cities to single-family rentals in the suburbs was once just anecdotal. But recently, several reports have come out to emphasize this trend.
The latest is the Single-Family Rental Market Index produced by The National Rental Home Council and John Burns Real Estate Consulting. It found that 59% of new single-family rental home residents relocated from urban residential environments in the third quarter.
The index is designed to measure the single-family rental home market’s relative health by evaluating key leasing activity, household occupancy, and anticipated demand. Fueled by growing numbers of individuals and families transitioning away from urban residential locations, the index hit 74.4 in Q3, the second-highest level on record after the 2Q 2020 reading of 76.3.
