xhv8mzw7ge79waga35o97s2wbzpfr6 Do Millennials Think it's Cheaper to Rent?

Do Millennials Think it's Cheaper to Rent?


As millennials begin to reach the age of their first home buying experience, the future success/failure of the multifamily space depends on one thing: Do they even want to buy a home?


Good news!


It's common belief among millennials that renting is significantly cheaper than owning a home. And this belief is increasing... "a record 82% of renters say renting is more affordable compared to last years 67%." - Freddie Mac


This leads to a wonderful consequence. Demand for rental units across the country is continuing to soar. Builders are struggling to keep up with this demand. As long as you can stay tactful in your building strategy while construction costs slowly rise; it's a wonderful time to be investing in multifamily.


According to CNBC,

  • Apartment demand in Q2 2019 spiked 11% compared to last year.

  • Rents are up an average of 3% nationally (up to $1390 per month)


"Rental demand is currently highest in the nation’s largest cities, with Dallas/Fort Worth, Chicago, Houston, New York City and Washington, D.C., leading."

295 W Center St, Suite A

Provo, UT 84601

(801) 758-8970

(Brokered by RE/MAX Equity & partners)

CONTACT US

FIG DISCLAIMER: No investments are guaranteed to result in profits. Net operating income, cap rates, and internal rates of return are subject to fluctuation and may experience a wide range of change, including the potential for operating losses. Factors affecting investment returns include, without limitation, changes in interest rates, tenant vacancies and defaults, property management expenses, repair and maintenance costs, HOA expenses, litigation, insurance rates, and relative strength and weakness in the local and regional economy. Past performance is not a guarantee of future returns. FIG does not provide tax or legal advice, and none of the statements or information on our website or sales materials should be construed as tax or legal advice. All investors are encouraged to seek advice from their own tax and legal professionals. All estimated returns on investments in FIG projects are subject to change and may be significantly different from actual financial performance. FIG is a brand used for the purposes of marketing. FIG is not an actual company but is used to brand the investment strategy used by those marketed on this website. © 2020 FIG & RE/MAX Equity