Over the past decade, the market has responded to the growing preference for “Rent by Choice,” with rental communities across the country being constructed to meet the needs, preferences, and lifestyles of this population segment. However, single-family rental communities are scarce in Bolingbrook and the Chicago region, and the lack of choice is inconsistent with the Village’s goal of having housing options responsive to community needs.

Residents of Grand Village will attain the benefits of single-family living while retaining the optionality, cost predictability, and maintenance-free lifestyle of renting. Nationally, the average tenant resides in a single-family rental community considerably longer than the tenancy in a traditional vertical multifamily property.

Wall Street Journal: Do You Need to Own a House? Many Older Americans Decide They Don’t

Rising property tax, insurance and home-repair costs are prompting some people 55 and older to consider renting

“A growing share of people in the second half of life, many of them longtime homeowners, are choosing to rent instead of own.

While homeownership climbs with age, the fastest-growing group of renters is those 55 and older, according to 2023 Census Bureau data compiled by the National Investment Center for Seniors Housing & Care. The share of renters 65 and older rose 30% in the last decade, according to a recent study by Point2Homes, a residence-rental platform.

More people are asking themselves, “Do I really need to own a house at this stage of my life?” says Ryan Frederick, author of the book “Right Place, Right Time,” which helps people plan where to live, especially as they live longer, healthier lives and have more options.

Their children are grown. The house is too big. Pipes leak. Weeding never ends. Many, newly single, can’t easily take care of the house on their own, or don’t want to and would rather take a trip without arranging for someone to cut the grass.

Then, there’s the financial side. Soaring taxes, rising insurance and home-repair costs are pricing some people out of their homes. Property taxes tend to go up every year and in some affluent areas residents can be hit with unexpected double-digit increases.”

PBS News Hour: Why renting over buying might be the favored choice in today’s real estate landscape

“I think it’s important to say, look, for most people right now, who are trying to figure out whether to buy or rent, renting is the smarter option financially. You will save money. And there’s a reason there’s so much of a sense that Americans should never rent, which is, we have this huge industry, the real estate industry, that makes a lot more money from selling homes than renting them.

And it helps to get out this message that people should buy, rather than rent, when, in fact, many people should rent.”

Bankrate: Study- Renting is increasingly more affordable than buying in most large U.S. metros

“Average rents are cheaper than average mortgage payments (homeowners insurance and property taxes included) in all 50 of the largest U.S. metros in 2025, with the cost difference between the two growing in all but 12 of those metros since last year, according to Bankrate’s Rent vs. Buy Study.

Over the last year, the study found average mortgage payments (including principal, interest, homeowners insurance and property taxes) increased while average rents either declined or remained stable in nearly all the metros we analyzed.

Housing experts said the fact that it’s cheaper to rent in all 50 metros in 2025 is a broader reflection of rental and housing market conditions across the country.”

CBS Evening News: Built-to-rent communities a growing U.S. trend amid sky-high housing costs

“Cassie Wilson rents by choice at an Avilla Grand property in Phoenix, Arizona. She says the “perfect” arrangement allows her to enjoy many amenities without the homeownership responsibilities.

“I can live here in a house that is fully up kept by someone else. I would like to buy a house out here. But on the flip side, I still want to travel,” Wilson said.

Though a growing industry, these built-to-rent communities made up only 7.9% of new residential constructions last year, according to Arbor Realty Trust.”