1st Lake Blog

Apartment Renting Is On The Rise In America

The rate of home ownership among young people in America has dropped significantly along with household net worth in the last several years. Because of the struggling job market and strict lending restrictions, home ownership for younger citizens has become difficult to achieve. Enter: apartment communities – affordable and attractive options for a person of a younger age, or any age for that matter.

Households made up of occupants 35 years or younger have largely opted for apartment renting instead of home ownership, even for young families with children. Some were forced out of their homes due to foreclosures following the Great Recession and others have been discouraged to buy in the current high-risk state of the housing market.

Luckily for those who don’t wish to pursue home ownership at an undesirable time, 1st Lake Properties offers hundreds of fantastic apartments for rent in metro New Orleans, including in-demand areas like Metairie, Kenner, River Ridge as well as on the Northshore and in Ridgeland, Mississippi. According to census data, home ownership by heads of households that are 35 years or younger have been on the steady decline with no signs of improving any time soon. Choose an apartment home while they are ripe for the picking!

1st Lake Properties’ apartment rentals in New Orleans and the outside area are serene escapes with beautifully landscaped grounds inside access gates that provide privacy and at the same time are near all the business, shopping, community resources and entertainment in their respective towns that any resident could ask for.