According to a recent study, America’s Rental Housing, conducted by the Joint Center for Housing Studies of Harvard University, 35 percent of all households are renters and 21 million of those renters pay more than the recommended 30 percent of their income on rent. The conclusion many have taken based on these numbers? That a significant amount of people are renting and paying far more than they should be. While many of the points within the study were valid, we wanted to give our take on the data and dig deeper into what our customers are experiencing in the rental market firsthand in various metros.
Maybe you’ve heard the quote, “The key to success is often the ability to adapt.” As VP of Product Management here at AppFolio, I track the major industry trends that affect the property management business. Below I’ve outlined some “mega trends” that I see evolving in the next 5 to 10 years.