As the economy improves and more households are created, thousands of new families are looking to enter the real estate market and purchase homes. But for many people, serious barriers stand in the way of buying a home. Because of these obstacles, many of tomorrow’s…

As the economy improves and more households are created, thousands of new families are looking to enter the real estate market and purchase homes. But for many people, serious barriers stand in the way of buying a home.

Because of these obstacles, many of tomorrow’s homeowners are using today’s single-family rentals (SFRs) as stepping stones to homeownership. According to the National Survey of Renters, more than 52 percent of renters—including 60 percent of single-family renters and 44 percent of apartment dwellers—said they anticipate becoming homeowners in the next five years.

Additionally, families with three or more members (64 percent) and children under 13 (69 percent) were more likely to become homeowners than the 43 percent of renters who have no intention of becoming owners.

The findings of the survey suggest that families are using SFRs as a step toward homeownership—whether they’re would-be first-time buyers or families displaced by foreclosure waiting to buy again when they can afford to do so.

Families can stay in these SFRs for several years as they prepare financially for homeownership. As they wait, they can enjoy many of the amenities of owning a home, including large floor plans, strong...