The newly released NYU Furman Center report on National Rental Housing Landscape, detailing the rise of rich households -- "those earning more than 120 percent of the metro median income ... " reveals a marked pattern in rental housing post-Great Recession, per CityLab.
What these numbers ultimately show is that contrary to convention, renting is gaining popularity among people who are seemingly well-positioned to buy a home. “We’re seeing a shift in the composition of renter households in the nation’s large metro areas,” Sewin Chan, an associate professor of public policy at NYU Wagner and co-author of the report, said in a statement.
Advertisement
Related Stories
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers