A recent report from Rentcafe says renting is at the highest level in half a century, with 43.7 million households currently living in rentals. In addition, the report says that over the past decade, over 100 zip codes have switched from homeowner to renter majority. In addition, the number of renters in 41% of zip codes in the 50 largest US cities now surpass those of homeowners.
“The American dream of homeownership has been rehashed throughout the past decade, with more households renting than at any point in the last 55 years. Although renting was previously considered an alternative brought on solely by circumstances, one-third of this decade’s renters now say that it’s a matter of choice.”