flexiblefullpage -
billboard - default
interstitial1 - interstitial
Currently Reading

Renters are the majority in 42 U.S. cities

Market Data

Renters are the majority in 42 U.S. cities

Over the past 10 years, the number of renters has increased by 23 million.


By David Malone, Associate Editor | January 25, 2018
Austin, Texas
Austin, Texas

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 25, 2022

‘Disruptions’ will moderate construction spending through next year

JLL’s latest outlook predicts continued pricing volatility due to shortages in materials and labor

Market Data | Aug 2, 2022

Nonresidential construction spending falls 0.5% in June, says ABC

National nonresidential construction spending was down by 0.5% in June, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.

Market Data | Jul 28, 2022

The latest Beck Group report sees earlier project collaboration as one way out of the inflation/supply chain malaise

In the first six months of 2022, quarter-to-quarter inflation for construction materials showed signs of easing, but only slightly.

Hotel Facilities | Jul 28, 2022

As travel returns, U.S. hotel construction pipeline growth follows

According to the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. construction pipeline stands at 5,220 projects/621,268 rooms at the close of 2022’s second quarter, up 9% Year-Over-Year (YOY) by projects and 4% YOY by rooms.

Codes and Standards | Jul 22, 2022

Hurricane-resistant construction may be greatly undervalued

  New research led by an MIT graduate student at the school’s Concrete Sustainability Hub suggests that the value of buildings constructed to resist wind damage in hurricanes may be significantly underestimated.

Market Data | Jul 21, 2022

Architecture Billings Index continues to stabilize but remains healthy

Architecture firms reported increasing demand for design services in June, according to a new report today from The American Institute of Architects (AIA).

Market Data | Jul 21, 2022

Despite deteriorating economic conditions, nonresidential construction spending projected to increase through 2023

Construction spending on buildings is projected to increase just over nine percent this year and another six percent in 2023, according to a new report from the American Institute of Architects (AIA). 

Building Team | Jul 18, 2022

Understanding the growing design-build market

FMI’s new analysis of the design-build market forecast for the next fives years shows that this delivery method will continue to grow, despite challenges from the COVID-19 pandemic.

Market Data | Jul 1, 2022

Nonresidential construction spending slightly dips in May, says ABC

National nonresidential construction spending was down by 0.6% in May, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.

Market Data | Jun 30, 2022

Yardi Matrix releases new national rent growth forecast

Rents in most American cities continue to rise slightly each month, but are not duplicating the rapid escalation rates exhibited in 2021.

boombox1 - default
boombox2 -
native1 -

More In Category




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

 



Magazine Subscription
Subscribe

Get our Newsletters

Each day, our editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Subscribe

Follow BD+C: