In 2024, the U.S. has recorded a historic high of 22.4 million renter households, with half burdened by high rental costs. The rise in cost-burdened households emphasizes the need for greater focus on rentals, which have often been sidelined in favor of homeownership. The article advocates for MLSs to enhance the visibility of rental listings to match that of sales properties. Improvements in platform functionality and user-friendliness could greatly benefit agents, landlords, and tenants by making rentals more accessible.
As of 2024, 50% of the 22.4 million U.S. renter households face cost burdens, highlighting a critical need for a balanced focus on rentals in the housing market.
The real estate industry has historically emphasized homeownership, but with rental demand increasing, rentals are becoming a crucial part of the housing landscape.
To enable better visibility for rentals, MLSs must enhance their platforms, making rental listings as prominent and accessible as for-sale listings.
BridgeMLS demonstrates an effective approach by integrating rental listings with sales properties, showcasing how MLSs can enhance the rental market visibility.
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