40% percent of the population aged 35-44 are still renters, not homeowners. Renters have a median net worth of $5,400 with 500,000 expected to be added to the market over the next two years. These shocking statistics are not great indicators for a recovering economy but are positive for property investors. For those Gainesville property owners who are renting out their properties, these statistics are promising for the future of their investment. As renters continue to pursue homeownership, the next two years are predicted to be successful ones for keeping rental properties occupied.
Lowest Homeownership Rate in 20 Years; Expect Further Decline