CityLab: Who rents their home in America? Here’s what the data says.
CityLab, August 8, 2018: Who rents their home in America? Here’s what the data says.
America is, by and large, a nation of homeowners. Though more than 100 million Americans rent, they’re outnumbered two-to-one by Americans who own their own home, according to data from the U.S. Census.
And that’s nothing new. Americans have had high rates of homeownership for a long time, with only modest changes over the decades.
But the populations of homeowners and renters aren’t flat across the U.S. There’s one major group of Americans who are more likely to rent than own: people in their 20s.
This trend isn’t very surprising—it takes capital to buy a house, something many 20-somethings lack. And people in their 20s can be more mobile and less likely to be married with children.