ROCKFORD, Ill. (WTVO) — Apartment owners in Rockford say there is a high demand for units among Millennial renters.
“I’d say for the last couple years actually and even within the last 6 months the markets been very strong, a lot of demand,” said Paul Arena, Director of Legislative Public Affairs for the Rockford Apartment Association.
The demand has led those moving to Rockford to have some trouble finding the perfect place.
“The typical profile is younger people, a lot of people looking for their first place. But, then we see the people who are coming back to town after college, first job types of situations,” Arena said.
Arena owns 48 apartment units across the Stateline, many of which are rented out by people in their 20’s.
Renter Fazal Khan said, “At first, I didn’t know the housing market and I wanted interest rates to go down, houses to go down as well, like price wise. So, because I had just started my first career, I wanted to wait it out a little bit.”
Arena said if a renter sees something they like, they should jump on it, fast.
“The demand is strong. When you advertise on Facebook, you’ll be inundated with responses when you post something out there for rent. It’s almost a trick to find the right marketing tools so that you can filter through to find a quality applicant,” he said.