DALLAS—Between 2011 and 2015, suburban areas gained renter households at a faster pace than principal cities in 19 of the 20 biggest US metros, according to the most recent analysis of Census data. It may be because life in the burbs is cheaper or because infrastructure, amenities, and access to jobs and public transit have much improved in recent years. Either way, one thing is certain: the suburbs are becoming attractive again, and the number of renters is growing there much faster than in the cities, according to RENTCafé.
During the post-recession rental boom, it appeared that millennial renters were flocking to urban cores. The trend was backed up by news of declining homeownership rates and urban apartment construction at record-high levels. However, urban areas have not gained as many new renters as expected.
As crowded urban areas are topping out in occupancy and prices, more renters are choosing the suburban life, with its landscaped, family-friendly, garden-style apartment communities. Some of the main reasons that people choose the suburbs are the schools are generally better, the communities are quieter and rents are typically cheaper.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
