
Since the 1960s, homeownership trends in America have remained largely unchanged. While many people rent, recent U.S. Census data proves renters are outnumbered two-to-one by people who own their homes. CityLab’s David Montgomery breaks down the differences and similarities between renters and owners in 12 charts. Each data set displays various factors that explore differences in age, decades, or income levels. Check out his findings below.
Americans have had high rates of homeownership for a long time, with only modest changes over the decades. But the populations of homeowners and renters aren’t flat across the U.S. There’s one major group of Americans who are more likely to rent than own: people in their 20s.
Adults older than 30 are more likely to live in homes they own rather than rent, a likelihood that increases as they get older. Similarly, most children live in homes their parents own—though the youngest children are the most likely to live in rented housing.
Similarly, lower-income Americans are much more likely to rent than wealthier Americans. Households earning less than $50,000 per year have a homeownership rate of around 45 percent, while nearly 80 percent of households earning more than $50,000 own.
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