Renters Outnumber Homeowners in Many Major Cities
Downtown Miami saw a record 173% increase in the zip code 33123.
October 12, 2022 at 08:17 AM
2 minute read
Real Estate
The original version of this story was published on Law.com
Renters outnumber homeowners in 41% of the zip codes in the nation's largest cities, with as many as 101 zip codes turning to renter-majority over the last decade.
According to an analysis from RentCafe, San Antonio's 78215 is the top trending zip codes for US renters and has tripled its renter population over the last 10 years. And of new renter majority zip codes, Columbus, Ohio's 43240 has seen the fastest uptick in the number of renters, followed by Chicago's 60606 (which includes the burgeoning West Loop) and San Antonio's 78256.
RentCafe analysts say about 68% of the people living in 43420 in Columbus are renters, a 157% increase over the last 10 years. It overlaps with the Polaris neighborhood, home to a community of renters with a median age of 31, and where renters earn a per capita income that's 25% higher than the overall Columbus area, according to Census data.
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