For all #investors looking at the US market for a buy-hold strategy based on long-term #renting, will be buoyed by the recent news from nationwide internet listing service (ILS) RentCafe, that 43.7 million households in the US are now renting.
RentCafe which enables renters to easily find apartments and houses for rent throughout the United States, indicates this figure, the highest level in 55 years, is the case even in areas across the country where home owning was far higher than renting. The numbers indicate that in 632 of the 1,553 zip codes analysed across the 50 largest U.S. cities, renters now exceed #owners.
The city that is said to indicate the most zip codes (46) in which renters represent the majority of the population, is, unsurpringly Los Angeles (CA), followed closely (44) by New York City (NY).
At the other end of the scale where owners dominate, Colorado Springs (CO) and Mesa (AZ) with only two and three zip codes, respectively where renting exceeds owning.
This information provides a clear direction for investors looking at a #long-term #buy-and-hold strategy as to locations where #investment #properties are likely to stay filled is the most likely.
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