By Steve Cook
If you have factored annual rental increases into your business plan, you might want to revisit those numbers in light of the latest reports on rental outlooks around the nation. Record numbers of apartments and unprecedented quantities of single family rentals are opening for business in markets across the nation and rents are feeling the pressure.
As of early 2013, renters made up 35 percent of all households. Renters are more likely to be young, low-income, and minority, and are also more likely to be single-person households. The median age for renters is 40, compared with 54 for owners. Their median …read more
