How Rent Control Policies Could Impact the Single-Family Market

Often thought of in relation to multifamily, rent control holds potential to affect single-family rentals, too.

By Joe Bousquin

When all is said and done, 2019 may be remembered as the year of rent control.

California, New York, and Oregon passed new statewide legislation in 2019 under the guise of rent reform, and Illinois is considering following suit. With the nation’s housing deficit now running at more than 1 million units, and rents continuing to rise in many markets across the country, the clamor for rent control has only increased in recent years.

“Since 2017, 14 states and the District of Columbia have attempted to expand rent control either through the legislature or via the ballot box,” says Jim Lapides, vice president, strategic communications at the National Multifamily Housing Council, a trade association that represents apartment groups. “Those 14 states and the District represent more than half of the existing rental apartment homes in the country.”