Rentership Surges Above Homeownership in the Suburbs

In the past, suburbs were predominantly made up of homeowner households, but that’s changing as more renters move into these areas
June 9, 2025
2 min read
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New homes on a suburban street
The suburbans have become more appealing to renters, with 203 suburbs in the most popular metro areas having more renters than homeowners.

Suburbs have traditionally been places for families to settle down and purchase a home, but that is changing as homeownership slips further out of reach for renters. Because of affordability challenges and changing lifestyles, renter households are extending past city boundaries and into the suburbs. In fact, a recent study from online rental marketplace Point2Homes found that 203 suburbs across the top 20 largest U.S. metros have more renters than homeowner households. As of most recent data in 2023, there are about 6.08 million households renting a suburban home in these metros, which is an increase of around 231,000 since 2018.

Some suburbs outpace cities in rentership growth

Suburban areas are seeing a faster rise in renter households compared with cities in several major metros. In Dallas, for instance, the number of renters in the city grew by almost 8%, but its surrounding suburbs saw a much sharper increase of 18%. This trend can also be observed in the Minneapolis and Boston metros, where suburban renter growth outpaced that of the cities by 3% and 2%, respectively.

East Coast suburbs are seeing the share of renter households grow the fastest

Over the past five years, 15 suburbs near major U.S. cities have shifted to having more renters than homeowners. This trend is especially prominent on the East Coast, with the suburbs of New York City, Miami, Boston, Philadelphia, and Baltimore leading the way.

For example, in Bound Brook, N.J.—a New York City suburb—the percentage of renter households rose from 49.9% of all households in 2018 to 58.2% in 2023. Likewise, in Leisure City, Fla.—a suburb of Miami—the share of renter housholds grew 46.6% to 54.7% during the same period.

Suburbs and exurbs have grown in popularity due to the amenities and lifestyle oppportunities they provide

  • Suburbs With the Biggest Growth Potential: With their affordability, space, and job opportunities, suburban areas are becoming increasingly popular, but some are projected to see more growth than others in 2025.
  • 10 Most Popular Exurbs in 2024: Exurbs are also seeing more growth as buyers and renters favor more affordable housing options. In 2024, exurbs in the Northeast were some of the most sought-after housing markets. 

 

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