Parents follow their kids to the South in ‘baby chaser’ boom
Affordability also plays a role, providing younger buyers with more accessible homeownership
The trend of "baby chasers" - parents relocating to be closer to their adult children - is gaining momentum, particularly in the Southern United States. This shift is driven by a desire to be near family, but also by the region's relatively affordable housing options. As the cost of living continues to rise in many parts of the country, the South's lower housing costs and warm climate are becoming increasingly attractive to retirees and near-retirees.
For renters, this trend has implications for the rental market. As more people move to the South, demand for rental properties is likely to increase, potentially driving up rents. However, the influx of "baby chasers" also brings new opportunities for rental property owners and developers, particularly in areas with a high concentration of adult children. By catering to the needs of this demographic, landlords and property managers can capitalize on the trend and create rental communities that appeal to both young professionals and their parents.
As the "baby chaser" trend continues to grow, it's worth watching how it intersects with other shifts in the rental market. Will the increased demand for housing in the South lead to a surge in new construction, or will existing properties be adapted to meet the needs of this new demographic? How will landlords and property managers balance the needs of "baby chasers" with those of existing renters, and what impact will this have on rental prices and availability?
Originally reported by housingwire.com. RentNews adds analysis for real estate & property readers.