Top Housing Markets for Single-Family Renters

Soaring home prices are pushing more renters to consider renting as a long-term solution. Over the last two decades, single-family rental households have grown by 31%. Comparatively, there has been a 21% increase in owner-occupied homes. To figure out the best markets for single-family renters, online rental marketplace Point2Homes analyzed the top markets across the U.S. and found that many parts of the East Coast are best for those renting single-family homes. Markets on the East Coast make up half of the top 10 housing markets for single-family renter households. Topping the list is Richmond, Va., as the top single-family rental market, followed by Raleigh, N.C.

Richmond hits the house-renter’s sweet spot: The metro leads due to a combination of desirable attributes for single-family renters, including a lower unemployment rate, a comfortable number of bedrooms and vehicles per single-family renter household, and even good air quality. Most importantly, it recorded the second-highest year-over-year job growth at 3.4%. Adding to its appeal, the greater Richmond area is now home to eight Fortune 500 companies, enhancing its appeal to professionals looking to rent. Read more