Are Multifamily Rentals Affected by Delayed Marriage?
The continuing trend of delaying marriage impacts many aspects of life, but it is fundamental to household formation. Whether or not someone gets married can determine their lifestyle, having children, their budget, and their household. Renting continue to be a logical solution for young, single adults without children. Therefore, multifamily rental markets continue to be strong due to this continuing trend.
In 2000, the average age of men getting married was 26.8 years and the average for women was 25.1 years. In 2015, that average was 29.2 for men and 27.1 for women. Americans are delaying marriage by an additional 2 to 2.5 years.
In 2016, married couple households made up 48% of American households. In 2011, this was 50% of households. In 2000, married households accounted for 53% of households and in 1990 they represented 56%.
Non-family households are made up of residents who are not related by marriage or blood, i.e. unmarried couples, roommates, or single. In 2016, non-family represented 36% of households and 31% in 2000.
Unmarried family households are made up of family members. This could be single parent and child, grandparent, or grandchild. In 2016, this made up 17% of households. 2000, they were 16% and 1990 they were 15% of the households. This is the most stable growth pattern of households.