flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

High-income renters now the fastest-growing housing market segment

Codes and Standards

High-income renters now the fastest-growing housing market segment

Growth is fastest in mid-sized cities with strong economies.


By Peter Fabris, Contributing Editor | February 28, 2019

Courtesy Pixabay

High-income renters are now the fastest-growing segment of the housing population, according to a study by Apartment List.

The number of households who earn six-figures and choose to rent has grown 48% over the past decade, the study found. Multi-family construction has quadrupled since 2010 and now exceeds pre-recession levels, with most of the activity on the high end.

Many high-earners increasingly value the flexibility of renting and want to live close to high-paying jobs in city centers. Many high earners are locked out of home ownership by the high cost of purchasing a home while managing student loan debt and stricter lending standards.

The rise of high-income renters has been most dramatic in mid-size, growing metropolitan areas, particularly Denver, Austin, and Oklahoma City. Growth in this category has been slower in the largest and most expensive markets, including New York, Los Angeles, and San Francisco.

Related Stories

Codes and Standards | Sep 16, 2020

Heat pumps are the future for hot water

Sustainability policies will drive trend.

Codes and Standards | Sep 15, 2020

Taller timber buildings approved in National Fire Protection Association code

Ensures compatibility with the International Building Code.

Codes and Standards | Sep 14, 2020

Relocation of neighborhoods, the next step in U.S. flood strategy, is underway

Repeated rebuilding after successive floods now seen as bad policy.

Codes and Standards | Sep 10, 2020

Fannie Mae programs provide incentives for multifamily solar

Affordable housing projects can find PV installations to be cost-effective.

Codes and Standards | Sep 9, 2020

Corporate pledges accelerate net-zero building movement

World Green Building Council drives goal of net-zero carbon emissions by 2050.

Codes and Standards | Sep 8, 2020

Study will examine elevator airflow amid COVID-19 pandemic

Researchers to investigate risk of airborne transmission.

Codes and Standards | Sep 4, 2020

Updated selection, application guide for plastic glazed skylights, sloped glazing released

Part of suite of skylight documents by Fenestration and Glazing Industry Alliance.

Codes and Standards | Sep 3, 2020

Turner Construction takes strong stand against racism

Shuts down work sites for anti-bias training.

Codes and Standards | Sep 2, 2020

California releases guide for state water policy

Water Resilience Portfolio is roadmap for meeting water needs as climate changes.

boombox1
boombox2
native1

More In Category


Reconstruction & Renovation

Movement to protect historic buildings raises sharp criticism

While the movement to preserve historic buildings has widespread support, it also has some sharp critics with well-funded opposition groups springing up in recent years. Some opponents are linked to the Stand Together Foundation, founded and bankrolled by the Koch family’s conservative philanthropic organization, according to a column in Governing magazine.



halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021