The amount you can charge for rent is pretty much regulated by the supply and the demand for housing in your particular neighborhood. Perhaps the rent you can charge for your fourplex units is limited because of some large apartment complexes nearby.
Consider tailoring your units where feasible,and/or buying units to serve the ever growing 65 and older crowd. Here you will be moving into a market of great demand and limited supply.
The U.S. 65-and-older population will more than double by 2050 to nearly 90 million*, growing at a rate far faster than any other age group. According to Census data, by 2050, one in five Americans will be over the age of 65. Some estimates put the figure even higher.
A recent study** showed that older Americans prefer housing that is close to resources such as shopping centers and medical facilities. The top five home amenities they prefer are:
- A washer and dryer within the apartment
- Adequate storage space
- Windows that easily open
- Being on the ground floor
- A thermostat that is easy to use.
** National Association of Home Builders and the Metlife Mature Market Institute
