Items Tagged with 'Rentcafe'

ARTICLES

  • Alexandria Ocasio-Cortez struggles to afford rent, like most Millennials

    Millennials spend more than 45% of their income on rent before age 30
    Nationwide, renters are struggling to navigate affordability, especially Millennials who on average spend more than 45% of their income on rent before the age of 30. So, it shouldn’t be surprising when a Millennial voices concern about rental affordability, right? But what if that Millennial is a newly elected member of the House of Representatives?
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  • Denver turns to "granny flats" to stave off affordability woes

    An urban regeneration coalition in Denver is receiving backing from Fannie Mae to install ADUs in low-income neighborhoods
    Auxiliary dwelling units could be the answer to helping low-income households afford to stay in gentrifying areas. According to a report by Donna Bryson from CNBC, the residents of a West Denver neighborhood are taking the affordability issues facing their neck of the woods into their own hands.
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  • RentCafé: 87% of units delivered in 2018 are luxury

    The lion's share of new construction is luxury product, could threaten rent growth
    According to an analysis from RentCafé, luxury rentals, those that are Class B+ and above, dominate the multifamily market’s deliveries and they have been since 2015. As recent as 2015, three quarters of new apartment construction fell into the luxury category. By 2017 that number crept up to 79%, and so far, this year, it is looking like that number soar even higher.
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  • These are the hottest ZIP codes for Millennials

    These job-laden, vivacious ZIPs are crawling with Millennials
    Where do Millennials want to live? According to a report from RentCafé using Census data, Millennials are still showing a strong preference for big city, urban ZIP codes in walkable, vibrant parts of town.
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  • PropertyShark: Gen Z has its eye on the American Dream

    A whopping 83% of Gen Z plans to purchase a home within the next five years
    Home prices are rising, inventory is drying up, and although the unemployment rate is at record lows, wages just aren’t increasing at a substantial rate. However, while Millennials are often deterred from entering the housing market, evidence suggests that Generation Z has its eye on homeownership.
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  • Zillow: Blacks and Latinos have to spend more than 30% of income to pay rent

    San Francisco, Los Angeles, Boston and New York are typically unaffordable for blacks and Latinos
    As rental prices continue to rise to record levels, new research from Zillow indicates that a disproportionate percentage of blacks and Latinos cannot afford to rent. This is because black and Latino income remains below their counterparts, hindering affordability in the majority of the 50 largest metros nationwide.
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  • More young families opt to rent instead of buy

    Homeownership for families with young kids drops 14%
    More young families chose to rent instead of buy in the 10-year span from 2006-2016, according to a study by RENTCafé. Likely influenced by rising home prices, tough lending rules and a lack of entry-level homes, the number of families with minor children that owned a home decreased by 3.6 million.
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  • Raising children no longer pushes new parents to get a mortgage

    Renting families increase up to 73% in some areas
    Millennials waited longer than previous generations to enter the home-buying market, a phenomenon many experts blamed on low housing inventory, higher student loan debt and the younger generation’s decision to delay having a family. But now, a new study shows that even having children may not be as strong of a motivator to buy a home as it once was.
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  • Rent just jumped to an all-time high

    New report shows nationwide rent crosses $1,400
    We’ve known that the rent may be too damn high for quite a while now, but a new report shows that rent has never been this high before. Newly released data from RentCafé and Yardi Matrix shows that nationwide apartment rents just hit an all-time high in June, crossing the $1,400 threshold for the first time ever.
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  • RENTcafé: 83% of renters can't afford to live where they want

    Sky-high prices in job nodes make a hellacious commute nearly universal for renters
    A RENTcafé survey of more than 2,000 renters found that less than 17% of them lived close to their desired location, meaning that 83% of renters have to go the extra mile(s) to get where they’re going. According to RENTcafé, apartments in desirable areas (aka job centers) cost $1,655 per month, a 37% increase over the national average rent of $1,211 in regular or low-rated locations.
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