By KIMBERLEY HAAS
Addressing affordability issues by allowing for creative living solutions may be the key to getting more Millennials into homeownership.
According to the 2023 Home Buyers and Sellers Generational Trends Report published by the National Association of Realtors, the share of Millennial buyers has declined. Millennials between 24 and 42 years old made up 28% of all buyers surveyed.
The share of Millennial buyers dropped because Baby Boomers between 58 and 76 years old were on the move in the last half of 2021 and the first half of 2022. They made up 39% of buyers and were the largest share of homebuyers, taking the top spot from Millennials, who had held the position for eight years.
Overall,…
By KIMBERLEY HAAS
Interest in minimalism has increased in recent years, and people who want to embrace that lifestyle could fall in love with one of the cities listed in a recent analysis.
Minimalism is commonly defined as intentionally living with fewer possessions, focusing instead on what is essential.
For the analysis by RentCafe, cities with populations of over 200,000 residents were ranked based on a series of metrics including public transportation, commute time, number of people walking and biking to work, the prevalence of work-from-home opportunities, size of homes, climate and environmental factors, population density, access to parks and beaches, electricity bills, and self-storage availability.
Google searches related to minimalism were also taken into account. There were an average…
Florida has taken the top spot as the most sought-after area for renters in 2022, according to new research from RentCafe. RentCafe looked at the 100 largest U.S. markets and analyzed data such as the number of days a rental sat vacant, the percentage of occupied apartments, and how many renters competed for apartments. South and Central Florida ranked highest, followed by mid-sized markets in the Northeast. Miami-Date County is the hottest rental market in the country, with the highest demand for apartments thanks to a huge number of apartment hunters, low inventory, and record-high lease renewal rates. Hot areas like Miami and Orlando are struggling to keep up with an influx of new renters even though they have built…
Gen Z is reviving urban hotspots assumed to be dying out due to Covid-19, a new report from RentCafe found. Gen Z is the only generation to see a spike in renting activity in the last year, up by 21% while the share of rent applications from all other generations dropped. They account for a quarter of all rent activity nationwide and pushed the number of applications for apartments from renters of all generations up an average of 10%. In 2020, Zoomers were stuck in their families’ hometowns or in their college towns. But now, following promises of job opportunities and vibrant living, they’re renting in cities once thought doomed in the wake of the pandemic. Compared to 2020, there…
