During the 10 years between 2006 and 2016, almost a quarter of the 100 largest cities in the United States shifted from owner- to renter-majority. In total, rentership growth outpaced homeownership in 97 of the 100 largest (by population) cities. 22 cities total made the shift, including key markets like Chicago, San Diego, Detroit, Austin, and Sacramento. The addition of these 22 cities now puts the total number of renter-dominated cities at 42, according to RENTCafé.
Gilbert, Ariz., saw the highest increase in renter share at 53.4%. Plano, Texas (40.0%), St. Petersburg, Fla. (39.4%), North Las Vegas, Nev. (38.5%), and Toledo Ohio (31.3%) round out the top five.
Newark, N.J., and Jersey City, N.J. place first and second as the markets with the highest proportion of renters at 74.3% and 70.4% respectively. Miami (68%), New York (65.1%), Boston (63.7%), and Orlando (62.7%) followed the two New Jersey cities.
For the full RENTCafé report, click here.
Related Stories
Market Data | Aug 18, 2020
July architectural billings remained stalled
Clients showed reluctance to sign contracts for new design projects during July.
Market Data | Aug 18, 2020
Nonresidential construction industry won’t start growing again until next year’s third quarter
But labor and materials costs are already coming down, according to latest JLL report.
Market Data | Aug 18, 2020
6 must reads for the AEC industry today: August 18, 2020
The world's first AI-driven facade system and LA's Greek Theatre restoriation completes.
Market Data | Aug 17, 2020
5 must reads for the AEC industry today: August 17, 2020
5 strategies for creating safer hotel experiences and how to manage multifamily assets when residents no longer leave.
Market Data | Aug 14, 2020
6 must reads for the AEC industry today: August 14, 2020
The largest single sloped solar array in the country and renewing the healing role of public parks.
Market Data | Aug 13, 2020
5 must reads for the AEC industry today: August 13, 2020
Apple Central World opens in Bangkok and 7-Eleven to buy Speedway.
Market Data | Aug 12, 2020
6 must reads for the AEC industry today: August 12, 2020
UC Davis's new dining commons and the pandemic is revolutionizing healthcare benefits.
Market Data | Aug 11, 2020
6 must reads for the AEC industry today: August 11, 2020
Elevators can be a 100% touch-free experience and the construction industry adds 20,000 employees in July.
Market Data | Aug 10, 2020
Dodge Momentum Index increases in July
This month’s increase in the Dodge Momentum Index was the first in all of 2020.
Market Data | Aug 10, 2020
Construction industry adds 20,000 employees in July but nonresidential employment dips
Association warns skid will worsen without new relief.