The affordability crisis in US cities is not just about buying homes. Rents, too, have been rising since the Great Recession. In the coastal and hot cities like Denver and Austin, those increases have put even rentals out of reach for many in the middle class–defined as those making between $50 to $125,000 depending on household size.
Surban” communities—suburban neighborhoods offering the most desired features of urban and suburban living—will attract the most households in the United States over the next ten years, according to a new ULI report, Demographic Strategies for Real Estate. Many people will choose to rent rather than own homes, pushing up demand for single-family rentals.
Despite the continued revival of urban downtowns, the suburbs will draw at least 80 percent of the coming wave of new households as younger families seek urban amenities combined with more kid-friendly housing and good schools typically associated with the suburbs