Renter demand for single-family housing has soared during the pandemic, but the profile of a renter in this segment looks a lot different than renters in the apartment market, according to Dori Nolan, SVP of national client services at Berkadia.

To start, single-family renters have a high education than renters in the apartment space. "I think that we have been able to prove that out. They are usually carrying a Bachelor's Degree or higher of education," Nolan tells GlobeSt.com.

Many single-family renters have moved from more expensive markets into affordable markets in the Sunbelt region, like Phoenix, Atlanta and cities throughout Texas and Florida. "These renters could have been a renter-by-necessity in a primary market, but is now a lifestyle renter in Atlanta or Texas or Arizona," says Nolan. "It can change, but the occupancy proves that the housing market in general is pretty resilient."