Renters are now the majority in more than 100 U.S. suburbs that were previously homeowner territory 10 years ago, according to an analysis of U.S. Census Bureau data by Yardi’s RentCafé. Another 57 suburbs are expected to follow suit in the next five years, with many of these suburbs belonging to the Miami, Washington, D.C., and Los Angeles metro areas.
As of 2019, 21 million people were renting a suburban home in the 50 largest U.S. metro areas—3.7 million more than a decade prior. Between 2010 and 2019, the number of suburban renters grew by 22 percent — a number that dwarfs the 3 percent increase in suburban homeowners during the same period.
Due to these changes in numbers since 2010, renters claimed the majority share in 103 suburbs, while only four suburbs transitioned to owner-majority in the same timeframe. Moreover, the latest Census data shows that nearly two out of every five people in today’s suburbia are renters, making up an average share of 39 percent in the suburbs of our largest metros.
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