Phoenix sees sharp increase in families renting rather than buying homes

Phoenix Business Journal

It’s not only singles putting their dreams of owning a house on hold.

The Phoenix metro has seen a 42 percent increase in families with children renting during the past decade, according to RentCafe, a nationwide apartment search website.

This increase translates to 70,000 more families who are renting, according to data from the report. The report also shows the number of families that owned homes in Phoenix dropped by 12 percent during the past decade.

Nationally, one of the most surprising…

Source: Residential News