The Single-Family Rental Is on the Decline
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Redfin reports a record 33% of U.S. rentals are in large multifamily buildings, while 31% are single-family homes—a record low SEATTLE--(BUSINESS WIRE)--Roughly one of every three (33.1%) renter-occupied housing units in America is located in a large multifamily building—the highest share in records dating back to 2011—according to a new report from Redfin, the real estate brokerage powered by Rocket.By comparison, 31% of rentals are single-family homes—the lowest share on record. Units in small multifamily buildings make up 27.3% of the nation’s rental stock, and townhomes make up 8.5%.Large multifamily buildings surpassed single-family homes as the most common type of rental housing in 2022, when multifamily construction was on the rise during the pandemic moving frenzy.This is based on a Redfin analysis of U.S. Census Bureau data through 2024—the most recent year for which data are available.Construction of both multifamily housing and single-family homes has generally been on t
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