Wednesday, August 12, 2015

Single Family Housing Units as Rentals: 1970 Versus 2013

A recent article by the Joint Center for Housing Studies at Harvard suggest that more and more single family homes are being used as rentals than ever before."The recent growth of single-family rentals is unprecedented," reports the Joint Center for Housing Studies.

Looking at local housing data seems to bear this out. Below is a graphic showing how, since 1970, we have seen a regional grow in overall housing stock (12%), and more specifically an increase in single family housing units (21%). At the same time the region has experienced an increase the number of renters (up 15%).

More to the point, there has been a very large jump in the number of renters that are occupying single family homes (attached or detached). Renters in single family homes have jumped from around 6,400 in 1970 to more than 9.200 in 2013, and increase of about 45% !

Click on the graphic to enlarge it.