Most US renters are located in these states, report finds (2024)

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Most US renters are located in these states, report finds? ›

Newark, New Jersey, has the most, with more than 79% of residents renting. Three other New Jersey cities were also home to the most renters. Out of the top five, the two other cities were in Connecticut. Of the top 10 cities with the highest percentage of renters, nine out of 10 are in the Northeast.

California had the most renting households with 5.73 million, or 13.6 percent of the nation's 42 million rental homes. Tenants in California make up 44 percent of households in the state, the third-largest share of renters behind. D.C., at 58 percent, and New York at 45 percent.

New York City tops the list with 415,817 renters who haven't moved in more than two decades. Los Angeles ranks second, followed by Chicago, San Francisco, and Philadelphia. Our survey found nearly 3 in 4 (71%) American renters want to buy a home.

If you're wondering, "what percent of americans rent", you've come to the right place. Today we'll show you how many americans rent. Did you know that 36% of American households currently rent their home?

After a cooldown early in the pandemic, rental housing markets heated up again in 2021. The Housing Vacancy Survey put the number of renter households at 44.0 million in the third quarter of the year, an increase of about 870,000 households from the first quarter of 2020.

The most expensive rental market in the US remains to be New York. The average monthly rent for a one-bedroom is roughly $3,260. This is about a $500 decrease from 2021, however as demand continues to increase prices are likely to follow.

Vermont, Delaware and Hawaii topped the list for laws benefiting renters over landlords, with Georgia, West Virginia and Arkansas at the bottom.

More than 900,000 renter households were evicted from their homes each year. South Carolina experienced the highest eviction rate of any state (6.2 percent) with an average of 26,430 evictions per year. Other states with high eviction rates include Arizona, Virginia, and Delaware.

North Dakota, South Dakota and Iowa are the best states for renters. California, Massachusetts and Nevada are the worst states for renters. Overall median rent ranges from $1,774 to $770 per month in Hawaii and West Virginia, respectively.

Why are more people renting? ›

While rents have softened recently, the high costs associated with homeownership and the unusually low supply of homes for sale are likely to leave more people renting.

What is the average rent in the U.S.? The average rent for an apartment in the U.S. is $1,702. The cost of rent varies depending on several factors, including location, size, and quality.

The average American renter is now paying more than 30 percent of their income on housing, as wages have failed to keep up with rent hikes and affordable units remain scarce, a new report shows. The nation is falling short of the demand for affordable housing by at least a million homes in some estimates.

John Malone is the largest private landowner in the United States. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999.

While last month's Household Census survey shows renters concerned about evictions, California consistently has the LOWEST eviction rates of the 10 most populous states, with 2.2 pre-COVID eviction filings per 100 rental households as compared to 9 per 100 in New York and 16 per 100 in Michigan.

Hawaii has the highest average rent in the United States at $2,399 a month. The asking rent for a typical unit in Hawaii is even higher, with vacant units asking $2,850 for new renters. Average rents in Honolulu cost an average of $2,528.

Which states in the US have rent control? ›

As of 2022, seven states (California, New York, New Jersey, Maryland, Maine, Oregon, and Minnesota) and the District of Columbia have localities in which some form of residential rent control is in effect (for normal structures, excluding mobile homes).

Data shows Black Americans, and especially Black women with children, face the highest rates of eviction, according to the Eviction Lab.

A staggering 9.7 percent of Black renter households and 8.7 percent of Hispanic households reported that they were very likely to be evicted in the next two months. This is significantly higher than what white (4.4 percent) and Asian (3.7 percent) households reported.

Looking at data from 2019, we see the highest rates of eviction across the Inland Empire (37 per 1,000 renters in Riverside County, 42 in San Bernardino County) and the Central Valley (36 per 1,000 in Calaveras County, 30 in San Joaquin County).

ECUADOR (tie) The low cost of living is the number one reason for many expats moving to Ecuador. It can be a tremendous advantage, particularly if you are on a fixed income. Rental prices are half the cost than in the U.S. or Europe, and often include furnishings.

1. Tulsa, Oklahoma. Of all U.S. metro areas with populations of more than 1 million, none has cheaper apartment rents than Tulsa.

Why is rent so high in the US right now? Over the past two years, the U.S. median rent rose by 18%. That was mostly because a competitive housing market and higher mortgage rates shut many people out of home buying. A strong jobs market and shortage of inventory also contributed to rising rent.

The most expensive city in the U.S. in terms of housing costs is San Jose, California. It combined the highest monthly housing costs in our study with the second-highest home values, but San Francisco wasn't far behind.

Buying a house gives you ownership, privacy and home equity, but the expensive repairs, taxes, interest and insurance can really get you. Renting a home or apartment is lower maintenance and gives you more flexibility to move. But you may have to deal with rent increases, loud neighbors or a grumpy landlord.

RentCafe chalked it up to a matter of “comfort and smart investing.” Owning a home can come with more than its fair share of maintenance and costly repairs and upkeep. Then there's the flexibility renting offers one to move from city to city for career opportunities.

Do millennials prefer to rent or buy? ›

New survey data from Apartment List shows that in 2022, 24.7% of millennials said they plan to “always rent” rather than buy a house. That's nearly double the portion that said the same in 2018 (13.3%). Apartment List defines “millennials” as those born between 1981 and 1996.

Cheap rent can be found in Midwest, South

Overall, the city with the cheapest average rent in the U.S. was listed as Wichita, Kansas, with a population of nearly 400,000. The average rent for all apartment sizes in Wichita is just $598 a month, the report said — adding that no other city averages under $700.

Spending around 30% of your income on rent is the golden rule when you're trying to figure out how much you can afford to pay. Spending 30% of your income on rent can help you reach a healthy balance between comfort and affordability. On a median income, 30% should get you an apartment you can truly call home.

California once again cities topped the charts for the most expensive single-family home rental markets in the country, with Los Angeles, San Jose, San Francisco, and San Diego taking the top four spots with asking rent at $4,099, $3,850, $3,736 and $3,600 respectively.

Renters across the U.S. are feeling the sting of soaring inflation, rising housing costs and the end of the national eviction ban. Some 15% of American households, around 6 million, are behind on rent this fall, according to a recent report.

Americans across the country are spending more than they can afford on rent, according to a report from Realtor.com. The February Rental Report found that despite a slight decrease in rent prices, affordability continued to get worse in 26 major metros.

There are between 1.5 million and 6 million fewer homes in the U.S. than there are households ready to occupy them. The proximate cause of this mismatch isn't hard to discern: Over the past ten years, the number of housing units per 1,000 people in the U.S. has actually fallen.

The penthouse nestled atop Central Park Tower is not only the highest in New York City but also the most expensive, with an asking price of $250 million.

Among the billionaires undeterred by the economy last year was Oracle cofounder Larry Ellison who, after just missing 2021's most expensive home sales list, topped the list in 2022 with the purchase of Netscape cofounder Jim Clark's 16-acre compound in Manalapan, Florida for $173 million.

Who owns the biggest house in the world? ›

Who is the owner of the biggest house in the world ? Istana Nurul Iman Palace, the official residence of the Sultan of Brunei, Hassanal Bolkiah, is the largest house in the world, spread over 2.15 million square feet.

Virtual Tour: Biltmore House—America's Largest Home.

Renters Key Stats. 65.8% of the U.S. population lives in a home they own, and 34.2% rent.

Single Family Homes

Single-family homes (SFHs) are the most common type of rental property that you can invest in.

(According to the Pew Research Center, about 36 percent of American households rented, rather than owned, their homes in 2019, the last year that reliable data was available from the Census Bureau.) Moody's first started tracking the metric in 1999, when the typical rent-to-income ratio was 22.5 percent.

Analysis by Redfin showed prices increased by 14.1% over the year in 2021 and 7.45% in 2022. With real wages falling by 1.3% in the last year there is an intense squeeze on purse-strings. California is no exception and has the highest average rent prices in the country.

A recent study from apartment search website and research blog RentCafe reveals that the generation transitioned from renter to owner, with 52% of millennials, born between 1981 and 1996, owning a home in 2022.

Why do people choose to rent? ›

One of the benefits of renting a home is that there are no maintenance costs or repair bills. This means that when you rent a property, your landlord assumes full responsibility for all maintenance, improvement, and repairs.