Homeowner Households Outpaced by Renters: Zillow

From the crest prior to the recession up through 2016, the country’s largest markets now have more renters, according to an analysis recently released by Zillow. In 2000, the rate of renters was 33 percent; from 2006 to 2016, the rate rose from 31 percent to 36 percent.

More than half of the 50 largest markets have more renters today, according to the analysis. The reason for the rise is varied. According to Aaron Terrazas, senior economist at Zillow, in the downturn, foreclosed-on homeowners rented, with many renting, still, today. Many are postponing purchases, as well—and, there is a convenience factor.

“The share of U.S. households that rent surged in the wake of the Great Recession, as millions of families were foreclosed upon and younger adults either chose to or had no choice but to rent for longer,” says Terrazas. “Renting…