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A Look At The Growth In Popularity Of Apartment Rentals in the United States

June 15, 2018


If you are a young person in the United States, a college student or a recent graduate, it is likely that you are just getting your footing in the adult world. From new jobs to paying off your students loans, you are just beginning to adjust. For many young people in their twenties and even beyond, finding the money to put a down payment on a house is not a top priority. But housing is still a hugely important aspect of life (as can be assumed in all parts of the country) and so many people, particularly those on the younger end of the spectrum, choose to rent, with apartments for rent being particularly common.

Renting is a popular choice among many different demographics of people, from garden unit apartments for rent to luxury apartments for rent. In fact, more than forty two million apartment units are currently occupied by people in all parts of the United States. These people (these renters) range from college kids to young and growing families, and the types of apartments for rent that are available will range from location to location, and from price point to price point. And renting can be a great way to save money, particularly if you share the monthly rent with one or more person (as many people decide to have roommates in their twenties and often even up until the point that they move in with a partner or get married). Around one quarter – a significant percentage – are considered to be renters by choice, meaning that they are not renting because they don’t have other options but are renting simply because they choose to and have no interest in buying a home, either a condo or a house.

From townhouses for rent to apartments for rent, there are many different types of housing that can be rented in the United States. Much of it depends on where you live. In densely populated metropolitan and urban areas, it is more likely that you will find an apartment unit to rent. In more spread out, spacious, and suburban or rural areas, rental options are likely to include more townhomes and the like. But no matter where you live, renting is becoming more and more of a popular with more than four million new renters expected in the next ten or so years (the next decade, as it is referred to in the study that was conducted by Harvard).

Apartments for rent are ideal for a number of reasons. For one, many offer a number of desirable amenities free to use for the occupants of the building or property. Such amenities often include laundry rooms, gyms, walking trails and even sometimes a hot tub and swimming pool. In fact, pools and fitness centers are in demand by around sixty percent of all current renters in the United States, and many apartments for rent are housed in an apartment building or complex with such admirable facilities. And renting an apartment or even a townhome is often considerably less stressful than owning a home. In fact, this is why at least half of all people choose to rent, citing a better ability to budget as well as an overall reduction in stress.

No matter why you may choose to rent an apartment or a townhome (or another popular residence) there is no doubt about it that apartment rental options are becoming more and more widespread throughout the United States. Apartments for rent are often ideal for those that are living on a tight budget, and for those who simply aren’t interested in the stress of home ownership. For these reasons and more, home ownership is dwindling as apartment rentals rise – no matter where you go in the United States and across many different demographics represented here.

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