While Generation Z singles and couples that entered the rental market in recent years have become the largest demographic group of renters in the country, their impact on regional markets remains largely mixed.
A new study by RealPage found that singles and couples that are part of the TikTok generation and late Millennials now comprise more than half of all renters in the U.S., despite facing higher economic challenges due to their coming of age amid the coronavirus pandemic and subsequent inflationary pressures.
Singles in their late twenties and young couples tend to be significantly more sensitive to economic changes as they tend to have comparably lower incomes than most other groups, RealPage said. These constraints have kept them concentrated in Sun Belt and Midwestern markets rather than coastal areas.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
