What Investors Should Know About Solo Renters

You might a surge in the number of renters becoming roomies to share the high cost of rent, but a new study shows the opposite. A study by RentCafe shows a significant increase in tenants renting alone, the generations that are driving the surge, the cities they are choosing to live in, and how much extra income they need to go it alone. According to RentCafe, the number of solo renters in the U.S. was up 6.7% to 16.7 million people between the years 2016 and 2021. That's about one million additional people renting alone. RentCafe says the biggest increase occurred in 2020, during the pandemic, when people were isolating themselves from Covid. During 2020, the solo renting phenomenon peaked at 17.7 million people, and then backed down somewhat... ...You can check all those statistics by following a link to the RentCafe article in the show notes at newsforinvestors.com. You can also sign up for a free RealWealth membership at our website to learn more about becoming a landlord in places where it's more affordable to own rental properties than California. And please don't forget to subscribe to this podcast, and leave a review! Thanks for listening! Kathy Fettke Links: 1 - https://www.rentcafe.com/blog/rental-market/market-snapshots/nearly-17-million-americans-renting-alone-salt-lake-city-saw-highest-surge/