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The renter suburb: Renters outnumber owners in 203 suburbs in largest US metros

In 2023, 203 suburbs across 20 large U.S. metropolitan areas became renter-majority, with more renters than owners living there.
This shift from owner to renter dominance largely resulted from rising home prices, mortgage rates, and the 2000s housing crisis accelerating suburban rental growth.
Between 2018 and 2023, renter households grew faster in suburbs than in city centers in five major metros, including Dallas where suburban renters increased 18%.
Frisco, Texas added over 10,000 renter households since 2018, while McKinney, Woodbridge, and Grand Prairie each added more than 5,000 renters in the same period.
Persistent price pressures, elevated borrowing costs, and sustained flexibility in remote work are expected to drive continued growth in suburban rentals, influencing shifts in housing preferences across the U.S.

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The renter suburb: Renters outnumber owners in 203 suburbs in largest ...

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The renter suburb: Renters outnumber owners in 203 suburbs in largest US metros | News Channel 3-12

The renter suburb: Renters outnumber owners in 203 suburbs in largest US metros Once homeownership strongholds, suburbs are ceding ground to the new housing reality: The renter-dominated suburb. Driven by affordability, mobility and changing lifestyles, homes for rent are extending beyond the city and into what used to be definitive homeowner territory. In America’s 20 largest metros, there are nearly 1,500 suburbs with a population higher than …

3 days ago

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