Annual home appreciation is now often less than the current inflation rate. In some areas home values have actually declined. So for many people, renting has become increasingly popular as the preferred housing choice in the '90s. Housing is the single largest budget item for most families. With the large variety of choices in today's housing market, the decision concerning what to buy or rent has become even more complex.
Some apartment complexes are as small as four units while others have hundreds of individual units.
Also available for rent are rooms, duplexes, individual homes, condominiums and townhouses. Today most individual homes have about 1,200 to 1,500 square feet of floor space. A manufactured home. These homes are increasing in popularity, especially among young married couples and retired couples. They were called mobile homes, but this term has become obsolete, since very few of these homes are actually ever moved once they are set into place.