As of 2020, people living alone made up 27% of new households. That trend has been accelerating.
The national median rent has risen over 20% since 2020, according to Apartment List. And the use of pricing algorithms used by some of the nation's biggest corporate landlords might be playing a role.
There was a huge surge in demand early in the pandemic. That has cooled down dramatically, and in some areas, demand is starting to be met.
Migration shifts due to the pandemic are among the factors that have contributed to price fluctuations in the rental market.
As housing costs rise, some are taking #vanlife one step further by leaving the solid footing of land. Instead of paying rent, they drop anchor.
The share of rental applications from young people with above-average incomes spiked 20% in 2021. The shift is rippling through the market.
In Spokane, Washington’s hot rental market, finding an affordable home is “like a full time job” said Spokane Valley resident Kali Capps.