Renters Surpass Homeowners in 41% of Zip Codes in the 50 Largest U.S. Cities – Mish Talk

RentCafe reports 101 Zip Codes Switch From Homeowner to Renter Majority

• A diverse set of 23 large and mid-sized cities transitioned from owner- to renter-majority between 2010 and 2020.
• Renting is at the highest level in half a century, with 43.7 million households currently living in rentals.
• As many as 101 zip codes switched to renter majority in the past decade.
• Renters surpass homeowners in 41% of zip codes in the 50 largest US cities.
• Downtown areas became more popular for renters in 2020 compared to 10 years prior.
• Of the new renter majority zip codes, 43240 in Columbus, OH saw the fastest increase in the number of renters.
• San Antonio’s 78215 is the top trending zip code for renters in the nation, tripling its renter population in ten years.
• One-third of this decade’s renters now say that it’s a matter of choice.