In the evolving housing landscape of America's largest metropolitan areas, a significant shift is occurring as suburbs witness a rise in renter households, outpacing owner households. Recent analysis indicates that 203 suburbs are now dominated by renters, reflecting trends driven by affordability, lifestyle changes, and mobility. Between 2018 and 2023, areas like Frisco, Texas, saw impressive growth in renters, with many suburbs transitioning from owner-majority to renter-majority. This blurring of lines between city living and suburban rental markets represents a notable change in housing dynamics across the U.S.
Driven by affordability, mobility and changing lifestyles, homes for rent are extending beyond the city and into what used to be definitive homeowner territory.
Between 2018 and 2023, the number of renter households increased faster in the suburbs than the main city in five of the 20 largest U.S. metros.
As of 2023, 203 suburbs are dominated by renters, as renter households here outnumber owner households.
In 15 suburbs, the number of renter households more than doubled in the five years between 2018 and 2023.
Collection
[
|
...
]