What are the implications of the revelation that most adults in Los Angeles are single market? Couples living together may be less likely to buy and more likely to rent. We can already assume singles living alone are more likely to rent. Most singles prefer to live alone, although economics does not always provide that luxury. As a result, due to economics, many singles have roommates and share two or three bedroom apartments. In desirable, high rent areas, singles take on roommates to share the rental cost. These shared two and three bedroom units allow Millennials to live in popular walkable amenity rich Los Angeles neighborhoods. In these cases, the rent per room is a very important factor. At PMI, we are trying to produce for Millennials in our Creative Multifamily program hip affordable fully renovated Los Angeles apartments in amenity rich walkable neighborhoods near transit. In some cases, that involves increasing the bedroom count where practical. See the full article below:
Going solo! Most adults in Los Angeles are single – LA Times.