A recent Pew Research Center analysis found that more U.S. households are headed by renters than at any point since 1965.
The number of U.S. households grew by 7.6 million between 2006 and 2016, but the number of households headed by owners remained relatively flat over that same period.
Meanwhile, the number of households renting their home increased significantly during that span, as did the share, which rose from 31.2% of households in 2006 to 36.6% in 2016. The current renting level exceeds the recent high of 36.2% set in 1986 and 1988 and approaches the rate of 37.0% in 1965.
Rental rates have increased among groups who are traditionally more likely to rent, such as young adults and nonwhites, but also in groups that have not been big renters in the past. When asked why they chose to rent the majority of renters cited the cost of home ownership.
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