The Continuing Demand for Travel Nurses and Therefore Midterm Rentals

As investors it is our responsibility to do some hard work and research, including knowing your demographics. I've recently noticed increased discussion about over saturation of the midterm rental (MTR) market, or how the demand for these properties is going to decline soon. Though I'm an investor and agent, before all of that I learned how to save your life! I am a registered nurse and have traveled for a significant portion of my healthcare career. As the primary tenants of MTRs are travel nurses, and as I've acquired my own MTRs in the last several years, I have a particular understanding of this market and would love to share my insight about why I don't believe the demand for MTRs will be dwindling any time soon.

In recent years, the demand for travel nurses has surged, and it shows no signs of slowing down. This trend is not a fleeting one; it's deeply rooted in several factors that continue to shape the healthcare industry. Let's explore why the demand for travel nurses is here to stay (and why that's great insurance for your mid-term rental).

1. Nursing Workforce Exodus: One of the primary reasons behind the sustained demand for travel nurses is the alarming rate at which nurses are leaving the profession. Burnout, stress, and demanding work conditions have driven many seasoned nurses to retire early or switch careers. The ongoing global pandemic has only exacerbated these issues. As experienced nurses depart, hospitals and healthcare facilities increasingly rely on travel nurses to fill the gaps.

2. Inadequate Nursing Supply: The nursing profession is facing a crisis; not enough nurses are entering the profession to meet the growing healthcare needs of the population. While there is a consistent influx of aspiring nurses, it is insufficient to counteract the attrition rates. Moreover, it takes years to train a nurse effectively, and the demand often outpaces the supply, leaving hospitals with no choice but to turn to travel nurses for temporary relief.

3. Aging Population: As the population continues to age, the need for healthcare services, including nursing care, is on the rise. Elderly individuals tend to have more complex healthcare needs, and this demographic shift puts an added strain on an already stretched healthcare system. Travel nurses are vital in ensuring that healthcare facilities can cater to the diverse needs of this growing population.

4. Limited Nursing Visas: Another significant factor contributing to the sustained demand for travel nurses is the reduction in the number of nursing visas being issued. In many countries, including the United States, strict immigration policies have made it more challenging for foreign-educated nurses to enter and work in the healthcare system. This reduction in available nursing talent has forced hospitals to look to travel nurses as a solution.

5. Geographic Imbalances: Healthcare needs vary significantly across different regions, leading to geographic imbalances in nursing demand. Rural areas often struggle to attract permanent nursing staff, and travel nurses play a crucial role in ensuring that patients in underserved communities receive the care they need.

In conclusion, the demand for travel nurses is a resilient trend driven by a perfect storm of factors. As the healthcare industry continues to evolve and adapt to these challenges, travel nurses will remain a critical component in delivering quality care to patients across the globe. If you're a real estate investor considering purchasing a mid-term rental to market to traveling healthcare professionals, rest assured that your investment will remain in high demand for the foreseeable future.