Beyoncé's major hit, Single Ladies, which explores men's unwillingness to commit, has a certain resonance today in the Atlanta rental market. According to a recent survey of 120,000 renters nationally and 5,296 renters in Atlanta by the National Multifamily Housing Council and Kingsley Associates, renters as a whole are youngish women going solo.
Results found that 58.9 percent of Atlanta renters surveyed are women, 62.5 percent are between the ages of 25 and 44, and 48.5 percent live alone. That last stats tracks higher than the national average, where 40.6 percent of renters live alone.
Renters as a whole have increased since the recession, where the number of 38 million renters has increased by more than 1.6 million over five years ago. But the survey shows that renters are optimistic in their assumption of property responsibility--76.3 percent said they will own homes within five years.
The hope is that renters can afford their housing costs. Right now, a study by Harvard's Joint Center for Housing Studies says that 49 percent of renters are paying over 30 percent of income for housing, and that percentage of renters paying a heap out of their paycheck jumps to 50 percent.
Well, if life imitates art, the single ladies will do just as fine as those sung about by Beyoncé herself. But, they want specific things, as explained by a RentCafe survey of women aged 18-35. Here are the top three.
First, a spacious master suite with lounge space is paramount for young female renters, many of whom consider their apartments to be places of refuges amid the bustle of work and city life. An en suite bathroom is an element of the home spa. Luxurious bathing facilities, such as tubs and multi-head showers, are in demand. Second, of course, is storage, which includes a walk-in closet, hall closet, and pantry space. Third is lots of natural light. Now, this list doesn't sound all that gender specific. But with surveys geared toward women, we're finding what a growing force the single female demographic is becoming--and the collective voice demands to be answered.
· Atlanta renters: young, female and thinking about buying [myAJC]
· What women want: the rental edition [RentCafe]