Shared by AptExert.com - Kathy Curtis
More Families Turn to Rental Housing Digested From "Family-Friendly Rentals"
Las Vegas Review-Journal (04/17/12) by Marilyn Kennedy Melia
Breaking with tradition, more families are choosing to rent rather than buy. These families, including some who used to own, place a priority on neighborhood and the quality of the school system. In selecting between renting a single-family house and an apartment, they consider safety, education, and affordability. One multifamily housing architect reports that more large apartment communities are beginning to incorporate open spaces with play equipment and add more three-bedroom units. David Barker, a finance professor at the University of Iowa, and Eric Miller of the Congressional Budget Office offer evidence that homeownership is not necessary to provide stability for families. "We found that once you control for things like the wealth of the family, then homeownership itself is not statistically significant. When a family that lives in housing that is affordable – whether it's rented or not – that's linked with better school outcomes. [All the better,] if a family can afford to rent in a good school district," Barker says.
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