Demand for rental properties has been a major driver of the housing market recovery in the United States. The proverbial adage of buying a home being cheaper than renting holds more value today than at any other time in American real estate history, and yet the demand for rental properties is quickly outpacing supply.Â
The most common image that comes to mind when talking about rental properties are condominiums, apartment complexes, town houses, and multifamily residential units. There are always a few renters looking for single-family homes, but the lower demand ensures that they have plenty of options to look at. In the current housing recovery, however, the demand for single-family home rentals has turned into a shortage.
According to a report by real estate analytics firm CoreLogic, the housing markets that have seen the greatest demand for single-family homes by renters are the same markets that suffered the most under the weight of foreclosures. Those markets are the same where heavy subprime mortgage lending took place; the same markets where large middle and working-class families accepted risky home loans they could not afford when the job market took a turn for the worst. Source Niche Report
For more information on Denver homes or rent to own Denver homes, call 720.432.4RENT (4736) or go online to www.MyDenverHomeAgent.com or www.RentToOwnDenverHomes.com.Â