Who are the renters?

[Karen M.]

Someone quoted a stat that 70% of people own their homes and 30% are renters.

Who are renters, and why do they rent?

I'll be honest that until a few years ago when I was reading a home decor blog (nesting place) I didn't realize that many people rented single family homes. I've been familiar with apartments and duplexes, etc.

What are the different situations in which people rent property or prefer to rent property (of any type)? What segment of renters do you appeal to with your properties?

In my limited experience, I rented when I was single, just out of college and was getting started in life. College area rentals seem interesting. What other demographics or profiles are "renters" comprised of?

Curious and learning -- thanks!

Karen

[Jon K.]

http://www.nmhc.org/Content.cfm?ItemNumber=55508

Age Distribution Renter-Occupied Households (000s) Share Owner-Occupied Households (000s) Share
Under 30 Years Old 10,314 72% 4,084 28%
30 to 44 Years Old 12,792 42% 17,483 58%
45 to 64 Years Old 11,116 25% 33,012 75%
65 Years and Older 4,538 18% 20,578 82%
Total 38,762 34% 75,159 66%

What Type of Structure Do Renter Households Live In?
Structure Type Households (000s) Percent Residents (000s) Percent
Single-Family 13,323 33% 39,181 40%
2 to 4 Units 7,621 19% 18,753 19%
5 or More Units 17,816 44% 36,562 37%
Mobile Homes 1,309 3% 3,664 4%
Other 166 0% 294 0%
Total 40,235 100% 98,454 100%

Large Cities: Population, Housing, and Renters
City Names Population Total Occupied Housing Units Total Apartments Apartments Percent Of All Housing
New York, NY 8,244,910 3,023,330 1,514,341 50%
Los Angeles, CA 3,819,708 1,304,145 545,250 42%
Chicago, IL 2,707,123 1,016,342 288,115 28%
Houston, TX 2,145,933 774,630 292,875 38%
Philadelphia, PA 1,536,471 576,429 89,510 16%
Phoenix, AZ 1,469,484 519,369 109,413 21%
San Antonio, TX 1,359,730 482,783 114,840 24%
San Diego, CA 1,326,183 468,194 135,928 29%
Dallas, TX 1,223,378 455,371 176,882 39%
San Jose, CA 967,478 305,460 68,190 22%
Jacksonville, FL 827,909 311,369 60,646 19%
Indianapolis, IN 824,232 324,438 66,434 20%
Austin, TX 820,601 331,582 125,401 38%
San Francisco, CA 812,826 342,706 130,869 38%
Columbus, OH 796,014 322,314 88,469 27%
Fort Worth, TX 760,758 263,676 55,177 21%
Charlotte, NC 751,074 292,715 69,808 24%
Detroit, MI 706,640 253,629 37,409 15%
El Paso, TX 665,577 219,568 37,451 17%
Memphis, TN 652,078 245,836 53,958 22%
Boston, MA 624,969 251,745 88,669 35%
Seattle, WA 620,778 282,492 99,602 35%
Denver, CO 619,968 266,624 86,859 33%
Baltimore, MD 619,493 239,251 51,505 22%
Washington, DC 617,996 268,670 111,192 41%

Characteristics of Apartment Households and All U.S. Households in 2011
(in thousands)
All Apartments New Apartments (Built 1990-2011) Total Households (Renters and Owners)
Total Households 16,060,156 3,375,747 115,076,390
Age of Householder
<30 30% 32% 12%
30-44 28% 31% 27%
45-64 26% 19% 39%
65+ 15% 18% 22%
Median Age 39 37 50
Mean Age 43 43 51
Household Type
Single Male 22% 20% 12%
Single Female 25% 28% 15%
Married Couple Only 9% 10% 21%
Married Couple with Children 10% 10% 24%
Single Parent 13% 13% 10%
Other Households 21% 20% 18%
Household Members
1 47% 48% 27%
2 27% 26% 33%
3 13% 13% 16%
4+ 13% 13% 24%
Mean Number 2.0 2.0 2.5
Children (under age 18)
Mean Number 0.4 0.4 0.6
% Households with One or More 24% 24% 30%
Household Income
Less than $20,000 41% 35% 22%
$20,000 - $34,999 22% 19% 18%
$35,000 - $49,999 14% 15% 14%
$50,000 - $74,999 12% 15% 17%
$75,000+ 12% 15% 30%
Mean Income $37,095 $44,490 $64,728
Median Income $25,768 $31,982 $45,964
Household Income of Market Rate Renters
Mean Income $41,938 $53,814 N/A
Median Income $30,000 $38,978 N/A
Hispanic Householders
Hispanic 20% 13% 12%
Non-Hispanic 80% 87% 88%
Motor Vehicles
Mean Number per Household 1.1 1.3 1.8
% Households with One or More 73% 85% 92%
Notes: NMHC tabulations of 2011 American Housing Survey. "Market Rate" apartments are those privately owned units whose residents reported that no government subsidy is received. Updated 3/2013

Transportation- 2011
Main Transportation to Work All Apartment Renter Households Apartments Built 1990-2011 Single-Family Owners Total Households
Car, truck, van, motorcycle or taxi 76% 84% 91% 87%
Bus or streetcar 7% 4% 1% 2%
Subway or rail 6% 3% 1% 2%
Walking or bicycle 7% 5% 1% 3%
Work at home 3% 3% 5% 5%
Other 1% 1% 1% 1%
Commute Time to Work
Less than 30 minutes 38% 42% 37% 37%
30 to 59 minutes 16% 15% 17% 16%
60 minutes or more 46% 43% 47% 46%

Source: NMHC tabulations of 2011 American Community Survey.
Updated 3/2013.

All Apartments New Apartments (Built 1990-2011) Total Households (Renters and Owners)
Total Households 16,060,156 3,375,747 115,076,390
Age of Householder


<30 30% 32% 12%
30-44 28% 31% 27%
45-64 26% 19% 39%
65+ 15% 18% 22%
Median Age 39 37 50
Mean Age 43 43 51
Household Type


Single Male 22% 20% 12%
Single Female 25% 28% 15%
Married Couple Only 9% 10% 21%
Married Couple with Children 10% 10% 24%
Single Parent 13% 13% 10%
Other Households 21% 20% 18%
Household Members


1 47% 48% 27%
2 27% 26% 33%
3 13% 13% 16%
4+ 13% 13% 24%
Mean Number 2.0 2.0 2.5
Children (under age 18)


Mean Number 0.4 0.4 0.6
% Households with One or More 24% 24% 30%
Household Income


Less than $20,000 41% 35% 22%
$20,000 - $34,999 22% 19% 18%
$35,000 - $49,999 14% 15% 14%
$50,000 - $74,999 12% 15% 17%
$75,000+ 12% 15% 30%
Mean Income $37,095 $44,490 $64,728
Median Income $25,768 $31,982 $45,964
Household Income of Market Rate Renters

Mean Income $41,938 $53,814 N/A
Median Income $30,000 $38,978 N/A
Hispanic Householders


Hispanic 20% 13% 12%
Non-Hispanic 80% 87% 88%
Motor Vehicles


Mean Number per Household 1.1 1.3 1.8
% Households with One or More 73% 85% 92%

State Distribution of Apartment Residents, 2011
State Population in Occupied Housing Units Number of Apartment Residents Apartment Resident Share of State Population
Alabama 4,686,906 334,475 7%
Alaska 696,365 57,193 8%
Arizona 6,338,579 691,856 11%
Arkansas 2,859,046 188,149 7%
California 36,871,518 6,150,090 17%
Colorado 5,001,327 662,404 13%
Connecticut 3,462,553 336,804 10%
Delaware 882,722 76,609 9%
District of Columbia 577,940 205,697 36%
Florida 18,635,836 2,244,294 12%
Georgia 9,558,759 1,038,655 11%
Hawaii 1,331,912 172,345 13%
Idaho 1,556,034 82,083 5%
Illinois 12,567,547 1,351,267 11%
Indiana 6,329,995 508,734 8%
Iowa 2,964,197 248,562 8%
Kansas 2,792,143 214,267 8%
Kentucky 4,243,477 289,029 7%
Louisiana 4,447,404 296,498 7%
Maine 1,292,643 83,068 6%
Maryland 5,689,902 784,170 14%
Massachusetts 6,349,092 783,790 12%
Michigan 9,647,118 807,868 8%
Minnesota 5,209,467 565,924 11%
Mississippi 2,886,549 170,016 6%
Missouri 5,836,654 409,198 7%
Montana 969,350 53,317 6%
Nebraska 1,791,476 183,166 10%
Nevada 2,687,168 406,926 15%
New Hampshire 1,278,090 108,731 9%
New Jersey 8,634,918 1,028,282 12%
New Mexico 2,039,592 137,784 7%
New York 18,879,525 4,440,718 24%
North Carolina 9,399,136 807,206 9%
North Dakota 658,876 86,745 13%
Ohio 11,238,646 1,007,387 9%
Oklahoma 3,681,563 272,708 7%
Oregon 3,785,214 446,234 12%
Pennsylvania 12,309,480 873,671 7%
Rhode Island 1,008,639 97,672 10%
South Carolina 4,540,063 349,646 8%
South Dakota 790,031 75,133 10%
Tennessee 6,249,881 519,917 8%
Texas 25,093,488 3,413,361 14%
Utah 2,771,069 234,713 8%
Vermont 601,102 35,870 6%
Virginia 7,856,815 919,861 12%
Washington 6,684,920 825,501 12%
West Virginia 1,805,982 87,939 5%
Wisconsin 5,560,531 521,718 9%
Wyoming 554,343 29,753 5%
Source: American Community Survey, 2011 1-Year Estimates.
Updated 3/2013.