The number of Americans who own their home rose to an all-time high of 212.7 million, or 66.4% in 2019. It’s still slightly less than a decade ago, before many owners foreclosed on their homes and turned to renting.
To find the cities where there are more renters than homeowners, and the ones with more owners than renters, RentCafe.com, a national apartment search website, analyzed 314 U.S. cities with populations greater than 100,000 and ranked them by comparing the number of people living in renter- and owner-occupied units in 2010 and 2019. RentCafe used data from the U.S. Census Bureau’s American Community Survey one-year estimates for the 2010-2019 period.
Waterbury, Conn., saw the biggest change in the structure of its population, with 60.9% of residents renting, compared with 48.8% in 2010.
On the flip side, in Kent Washington 57.9% of residents are homeowners, and three cities that are big job hubs changed to an owner majority since 2010: Baltimore, Chicago and Sacramento, Calif.
Based on RentCafe’s analysis, here are 18 cities with more renters than homeowners, followed by the 12 cities with an owner majority.