People renting single-family homes over multi-family are looking for a suburban living experience with more space in their home, front porches, private garages, and private fenced back yards.
We have learned that not sharing walls and not being tied to a mortgage are two key factors in decisions to rent single-family homes instead of apartments.
Single-family rentals provide a different living experience than a multi-family rentals by providing a low-density lifestyle in a suburban setting with more privacy. Single-family rentals are seen by some as the next step from multi-family living.
We have read in multiple sources that many Millennials don’t want living commitments that tie them down. Therefore, they are choosing renting instead of buying.