Many cities in the Southeastern United States, such as St. Petersburg, Orlando, Miami, Atlanta, Jacksonville, and Tampa, have seen a dramatic increase in renters. Even smaller cities are experiencing a shift from home ownership to apartment renting.
In fact, in 100 of the largest cities, by population, renters have outpaced owning a home in 97 of these cities. St. Petersburg, Florida, was one of the cities where renters share saw a significant increase, 39.4%. While Orlando (62.7%) and Miami (68%), Florida, are among the cities which have the highest percentage of renters.
Some key takeaways from a Rent Cafe report, renters became the majority of the population in 22 big cities.
• The population of almost a quarter of the 100 largest US cities has changed from homeowner- to renter-majority between 2006 and 2016
• The increase in the number of renters at national level in a decade’s time was only slightly slower than the total population growth over the same period, demonstrating a big swing toward renting
• The growth of the renter population outpaced that of homeowners in most large US cities
With any construction and renovation of any multi-family housing, partnering with a full service construction group makes all the difference. Today’s multi-family housing and apartment construction projects have a distinct set of challenges and innovations that require specialized knowledge and dedication.
SWET Construction Group is an industry leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States. We take pride in our professionalism and innovative approach, we are known for our quick turn around on projects and being cost efficient.
With over 66 years of combined experience and over 42,000 completed units, you can feel confident SWET Construction Group. Our experienced team, advanced knowledge of construction, high quality products, on-site management, turn-key solutions and precise estimation, will deliver the results you’re looking for on budget and on time.