Renting has become the norm in major U.S. cities, with over 60 percent of the population in places like Manhattan, Miami, Boston, Los Angeles, and San Francisco being renters. Despite this, the real estate industry continues to focus primarily on single-family home sales. This focus neglects the importance of renters, who are not just the majority in growing markets, but also crucial for the cash flow of landlords. The rental market requires innovative tools and support as rental activity remains constant and competitive. Recognizing this shift can lead to smarter business strategies for real estate professionals.
In some of the most dynamic markets in the U.S., owning a home is not the norm. Renting is, and that increasingly so.
Renters are the story. The majority in high-growth metros, they are the foundation of long-term cash flow for property managers and landlords.
The mismatch between demand and for-sale-level support for rentals has created a vacuum. Yet rentals aren't the negligible side hustle they have been treated as.
Real estate professionals who recognize this can build more resilient businesses, tap new revenue streams, and stay relevant in an era of shifting consumer expectations.
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