Home | Newsletter | Advertise
loading...

House Rentals Outnumber High-Rises

  • April 24, 2012

by UrbanTurf Staff

House Rentals Outnumber High-Rises: Figure 1

Do you rent in a row house or a high-rise? A new report reveals that it is probably the former.

A recent Wall Street Journal article reported on statistics from CoreLogic that say the number of smaller homes (1-4 units) being rented in the U.S. exceeds that of buildings with 5 or more units.

From the WSJ:

CoreLogic economist Sam Khater, who crunched Census numbers, [determined] that about 20.7 million rentals are in 1-to-4 unit homes, including both detached and attached homes, compared with about 17.1 million rentals in buildings with 5-or-more units. About 1.87 million American households are in mobile homes, RVs, boats, or vans.

The article intimates that this trend will likely continue, at least nationwide, as Wall Street firms invest in foreclosed properties and the possibility of the government renting out foreclosures, continues to be…a possibility.

However, with the number of new rental units coming online in the region, the DC area may buck the trend. In January, Delta Associates vice president Grant Montgomery told UrbanTurf that over 6,200 investment grade rental units started construction in the fourth quarter of 2011, the largest number that the firm has seen in 18 years, and over 23,000 new units are expected to deliver in the metro region in 2012 and 2013. The overwhelming majority of these apartments will be in buildings of more than 5 units.

See other articles related to: renting out foreclosures, renting in dc

This article originally published at https://dc.urbanturf.com/articles/blog/rentals_in_houses_outnumber_high-rises/5455

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse