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IPFS News Link • Economy - Economics USA

Renters Surpass Homeowners in 41% of Zip Codes in the 50 Largest U.S. Cities

• https://mishtalk.com, By Mish

RentCafe reports 101 Zip Codes Switch From Homeowner to Renter Majority

A diverse set of 23 large and mid-sized cities transitioned from owner- to renter-majority between 2010 and 2020.

Renting is at the highest level in half a century, with 43.7 million households currently living in rentals.

As many as 101 zip codes switched to renter majority in the past decade.

Renters surpass homeowners in 41% of zip codes in the 50 largest US cities.

Downtown areas became more popular for renters in 2020 compared to 10 years prior.

Of the new renter majority zip codes, 43240 in Columbus, OH saw the fastest increase in the number of renters.

San Antonio's 78215 is the top trending zip code for renters in the nation, tripling its renter population in ten years.

One-third of this decade's renters now say that it's a matter of choice.

The first zip code on the list is 43240 in Columbus, OH. About 68% of the people living in Columbus' 43420 are renters — as a result of a whopping 157% increase in the last 10 years. A densely populated area, the zip code largely overlaps with the Polaris neighborhood, which is home to a community of young renters with a median age of 31. Here, residents earn a per capita income of $43,000 — 25% higher than that of the Columbus metro area, per Census data.

Next up is followed by Chicago's 60606, which coincides with the West Loop neighborhood. In this area, the number of renters grew by two and a half times in a decade (151%). A thriving community that flaunts a 63% renter population, its residents are mostly Millennials and Gen Zers with high academic achievements.


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