Renters now comprise the majority of residents in dozens of metro suburbs.
Renters are flocking to the suburbs. According to a RENTCafé blog, more than 100 suburbs transitioned from homeowner heavy to renter majority during the past 10 years. Renters are the majority in 103 suburbs that 10 years ago had more homeowners, and 57 more suburbs are predicted to flip in the next five years.
RENTCafé cites Census Bureau data that 79% of the 4.7 million people that moved to suburbs of the 50 largest metros in the last 10 years were renters.
While renters overtook 103 suburbs, homeowners only regained four suburbs. Most of the suburbs in the top 50 metros that turned renter majority were concentrated in three locations: California, Washington, D.C., and Florida.
The suburb with the biggest change in renter share percent from 2010 to 2019 was Merrifield, Va. Merrifield went from 44% in 2010 to 64.2% in 2019 and was also the suburb with the highest percent of renters in 2019. Brownsville, Fla., and San Pablo, Calif., were the only other suburbs to have a renter share of at least 60% in 2019.
Read the full report here.