3 Biggest Challenges Faced By Young Renters In The USA
By Homz | February 23, 2023
As the number of renter households in the United States continues to climb, it’s important to consider the challenges faced by young renters in the country.
With the number of renters between the ages of 18 and 35 on the rise, this demographic is facing a unique set of challenges when it comes to finding affordable and suitable housing.
Here are three of the biggest challenges faced by young renters:
A lack of affordable housing options:
The rising cost of living, paired with stagnant wages, has made it increasingly difficult for young renters to find housing that they can afford.
A lack of suitable housing options:
Many young renters are looking for modern amenities that cater to their evolving lifestyles, such as fitness centers, community spaces, and convenient transportation options, which are often not available in most city infrastructure today.
Discrimination and bias from landlords and property managers:
This can make it difficult for young renters to find suitable housing, even if they are financially able to afford it.
Overall, the challenges faced by young renters in the USA are significant, and solving them will require a multifaceted approach that includes building more affordable and suitable housing options, and addressing discrimination and bias in the housing market.
At HOMZ, we are working towards a holistic approach by building attainable housing communities that cater to the evolving lifestyles of younger generations. Our goal is to meet the demand for attainable housing while fostering a sense of community, health, recreation and convenience.