Rental Demand Likely to Hit Historic Highs This Decade

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It’s no secret by now that rental prices have been skyrocketing nationwide for months upon months.

Now, CNBC financial reporter Diana Olick has taken another look at the rental market and found that – despite the growing costs – rental properties are becoming more in-demand than ever before, suggesting that we’re likely to see a record high number of renters by the end of this decade.

“Surprisingly, it will not all be driven by millennials,” Olick explained. “So far, households aged 45 to 64 have accounted for twice the share of rental growth as households under the age of 35. So as we talk about higher rents, it’s the middle-aged middle-class that’s getting squeezed too.”

Image via flickr/hearingpocket

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