Some key take-aways from Green Street Advisors SFR Rental Primer
We have highlighted a few key take-ways from the Green Street Advisors Single Family Home primer released on June 6, 2016.
It’s a great read, particularly for the single family home rental market, covering topics such as supply and demand, operating fundaments, revenue/margin growth and common myths.
Our key takeaways from the primer:
Single family home market= most noteworthy ~13% of all occupied housing and~ 37% of total market
SFR may account for ~37% of new renter households or 1.5 million new units of SFR demand between 2016- 2020
Rental units convert to owner-occupied properties which as a result in removal from supply and mostly new foreclosure conversations
2 fundamental drivers: household formation and changes in homeownership rates
SFR sector will outpace apartment rent growth; as a result an estimated ~average 3.0% annual growth through 2020
To see OffrBox inventory of SFR, use this link for a nationwide list or search within your area rental.