Home Renter-Ship On The Rise | 35% Of All Occupied Homes Are Rentals

Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

A housing trend that will continue to increase is renting. Renting can make financial sense for both the landlord and the tenant.

Nearly 35% of occupied homes were rented out in 2010, that's opposed to 33.8% in 2000, according to census data compiled by USA Today. More than 500 cities have seen a rise in the share of homes being made into rentals. Of course, not all sellers can afford to rent in this market and move somewhere else and that has a direct effect on their ability to move and take a new job.

What happens when someone has to move to take a job and can't sell (or rent) their home? More defaults...more foreclosures. Of course, the best solution to avoid a foreclosure is a short sale. Many times owners are underwater and even if they could rent the home it would have significant negative cash flow.

Comments (0)

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?