Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Question for rental property owners
Old 06-06-2007, 08:10 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
Question for rental property owners

There have been a few articles in my local paper about the issue of the growing number of renters who don't pay their utilities. Our city provides water and sewer, electricity, and trash and recycling pickup.

What concerns me about this is that it brings up that 33% of the housing stock in my town is rentals. I was very surprised by this. I had no idea that it was so high.

This is a suburb of a small city in northeast Ohio (not Cleveland). We have a population of about 48,000. It's almost all residential with neighborhoods built in the 1920's and 30's and then a large building boom in the 1950's. A few condo developments were built in the 1980's. There are some 4 to 6 unit older apartment buildings and a few multistory apartment buildings, many of these are for senior citizens.

Is this typical that 33% of the housing would be rental? For the percentage to be this high a good portion of this would have to be single family houses. Another recent article pointed out the effect this has on the local schools, because of fluctuating class sizes and kids transitioning in and out and how that shows up in the state required proficiency test scores.

I was just surprised by this statistic. In my immediate neighborhood we rarely see a "For Rent" sign and I don't know anyone who rents. We've lived here 23 years and this is the first time that this has been discussed in the paper.
Sue J is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-06-2007, 08:47 AM   #2
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
I just looked up the stats for my city of 85,000. Thirty-six percent of housing units are renter occupied.

It varies significantly by neighborhood.

Minneapolis/St. Paul is 72% owner occupied, which is apparently high. San Diego is low at 55%. (2002 figures) Minneapolis-St. Paul Metropolitan Area Fact Sheet
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 06-06-2007, 10:50 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2003
Posts: 18,085
If memory serves, homeownership rates peaked at close to 70% at the height of the loose money era, so there must be ~30% or better of the population nationwide that rents. So your area at 33% isn't out of line.
__________________
"All animals are equal, but some animals are more equal than others."

- George Orwell

Ezekiel 23:20
brewer12345 is offline   Reply With Quote
Old 06-07-2007, 08:42 AM   #4
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,594
Not sure what the exact percentage is in the ares I rent out ... but it's going UP. Rents are a bargin compared to the costs of ownership.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone ever go through a property tax grievance? kjpliny FIRE and Money 29 11-11-2009 01:31 PM
How to answer questions. ???With a question or assignment????? dex Forum Admin 2 02-25-2007 07:56 AM
Question for the CPA’s and Financial Professionals? PsyopRanger FIRE and Money 10 07-05-2006 07:40 AM
Beach front property Arif Young Dreamers 2 01-02-2006 01:08 PM
Better wipe the home off your asset list laurence FIRE and Money 38 07-12-2005 08:57 AM

» Quick Links

 
All times are GMT -6. The time now is 07:30 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.