sep Apartments For Rent vs Homes For Rent

Apartments For Rent vs Homes For Rent

October 19, 2007 – 1:40 pm

I was recently on Google trends and found an interesting comparison between apartments for rent search queries and homes for rent search queries and their search volume for the last 3 years.

Homes for rent search volume almost surpassed apartments for rent search volume in the first part of 2007. I forecast that by early 2008 search volume for homes for rent will surpass that of apartments for rent and here are some reasons why.

1) The for sale housing market will continue to worsen. This means these same people who were going to buy a house are now more likely to rent a house in this down market.

2) There are many more homes for rent properties being posted to the internet as compared to previous years. This has given those searching online much more reason to return searching because of an increase in inventory.

3) The mortgage crunch is pushing those that would buy homes to now rent homes

2008 will be a great year for consumers looking to rent homes online as well as those who want more visibility for their property by posting online.

Over $2.1 billion was spent online for apartment marketing in 2006. The single family home online marketing spend is increasing more and more each year and someday will reach the $billion mark.

  1. 3 Responses to “Apartments For Rent vs Homes For Rent”

  2. Great post - thanks for the graph! I have noticed several houses in my area that had “for sale” signs posted for months, only to be converted to “for rent” or “rent to own” more recently. I think the “rent to own” numbers are going to comprise a bigger slice of the overall house rental market as the selling market continues to slump.

    By John Sherrod on Oct 22, 2007

  3. yes and i feel these are the same people who have lost their homes due to foreclossure looking to stay in a home -the new trend i am having here in jacksonville fl and i have been getting a lot of emails from atlanta ga too over this is single mom’s on section 8 looking to get out of the projects or apartments and looking for their first home in some of these emails these young mothers have never lived in a home their whole life and as young moms they have just graduated colledge ( as nurses, legal aids,ect) have good paying jobs and want to be in a home to raise their kids -i dont know if it is because of the crime rate in some of these places that maybe they want better schools and feel safer in homes -but i have seen this trend more in the last 6 months any comments on seeing this trend
    www.superhomerentals.com

    By superhomerentals.com on Jan 14, 2008

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