Renting Statistics

Renting statistics indicate that younger households rent longer and at greater rates as homeownership becomes a less attainable goal.

36%
households live in rental properties
31%
average 10-year rental rate increase
41%
renters spend over 35% income on rent
$1.1K
median gross rent

Renting Statistics

More than one-third of U.S. residents rent their home. Most are under 45 years old and have attended college.

  • 44.1 million or 35.9% of U.S. households rent their homes.
  • The average renting household has 2.48 residents.
  • 109 million Americans live in rental housing.
  • 48,248 or 0.11% of rental homes are rent controlled.
  • 127 working hours is the weekly requirement for minimum wage earners to afford the average apartment.
  • 5.5% of renters have lived in their home for more than 20 years.
  • 34.4% of renters are under the age of 35.
  • 16.5% are aged 65 years and older.
  • 86.4% of renters are high school graduates or equivalent.
  • 64.1% of renters are White, including Caucasian, Hispanic or Latino.
  • 51.8% of renters are Caucasian, 20.3% are Black or African American, and 19.7% are Hispanic or Latino.*
  • The number of renters increased between 2006 and 2016 by 23 million, compared to the number of homeowners, which increased by less than 700,000 in the same period.

*Totals will not add up to 100% due to overlapping ethnic and racial demographic parameters.

Pie Chart: Age Groups Among Renting Householders

Cost of Renting

Rent controlled units are most likely to be single units followed by those on properties with 150 units or more.

  • The average renter spends 30.99% of their income on rent.
  • The median household income among renters is $42,479.
  • 41.61% of renting households have an annual income below $35,000.
  • 16.50% have an income of $75,000 or more.
  • 25.50% of renters spend $1,500 or more per month on rent.
  • 8.75% of renters pay less than $500 for rent.
  • 4.84% of renters pay no cash rent, including Section 8 households.
Most Expensive U.S. Cities for Renters
City Average Monthly Rent*
Manhattan, NY $4,366
San Francisco, CA $3,794
Boston, MA $3,591
San Mateo, CA $3,444
Cambridge, MA $3,311
Sunnyvale, CA $3,129
Santa Clara, CA $3,105
Jersey City, NJ $3,078
Brooklyn, NY $2,969

*2018 data adjusted for inflation to 2021 US$.

Renting Demographics

One out of every 5 millennials believes they will never be able to afford to buy a home.

  • 64.06% of renters are white.
  • 51.79% of renters are Caucasian/Nonhispanic.
  • 19.65% of renters identify as Hispanic or Latino.
  • 20.25% of renters are Black or African American.
  • Native Hawaiian and Pacific Islander is the least common racial demographic among renters at 0.23%.
  • 28.3% of renters have a bachelor’s degree or higher.
  • 13.6% never graduated high school.
  • 13.32% of millennial renters say they will always rent because they will never be able to afford to buy a home.
  • In 2019, 8.28% of millennial renters indicated they would never be able to afford to buy a home.
  • 13% of millennial renters across the US will be able to afford a traditional 20% down payment within the next five years.

Bar Graph: Ethnic and Racial Demographics Among Renting Householders

Rental Property Statistics

More than half of rental properties were constructed between 1960 and 1999. The average apartment is a 2- to 3-bedroom unit in a multi-unit structure.

  • 18.12% of occupied rental properties were constructed in the 21st Century.
  • 44% of rental properties are suburban.
  • 41% of rentals in the U.S. are urban.
  • 15% are considered rural
  • 26% of renters live in detached single family homes.
  • 18% of renters live in buildings with fewer than 10 units.
  • 18% of renters live in a building with 50+ units.
  • 17% live in buildings with 10-49 units.
  • 1.87% of occupied rental units have no heat.

National Map: Median Gross Rent by State

Rental Statistics by State

Renters are more than twice as likely to have a bachelor’s degree than they are to not have a high school diploma. One out of every 20 renters lives in the same apartment for more than 20 years.

  • The average U.S. state has 864,274 renting households.
  • In the average state, 34.17% of all households rent.
  • The average median gross rent is $1,034.
  • 4.84% of renters in the average state pay no rent.
  • 35.96% of renters are under 35 years old.
  • 16.83% of renters are aged 65 or older.
  • California has the highest number of rental units.
  • The District of Columbia has the highest household rentership rate followed by New York.
  • Hawaii has the highest median gross rent.
  • The lowest median gross rent is in West Virginia.
  • West Virginia also has the highest rate of renters who pay 0% rent.
  • Maine has the highest rate of renters aged 65 years or older.
  • North Dakota’s renters are the youngest.
Rental Statistics by State
State % Households Renting Median Monthly Rent
Alabama 31.2% $807
Alaska 35.3% $1,201
Arizona 34.7% $1,101
Arkansas 34.5% $742
California 45.1% $1,614
Colorado 34.1% $1,369
Connecticut 35.0% $1,177
Delaware 29.7% $1,116
District of Columbia 58.5% $1,603
Florida 33.8% $1,238
Georgia 35.9% $1,049
Hawaii 39.8% $1,651
Idaho 28.4% $880
Illinois 34.0% $1,020
Indiana 30.7% $840
Iowa 29.5% $808
Kansas 33.5% $862
Kentucky 33.0% $773
Louisiana 33.5% $866
Maine 27.8% $870
Maryland 33.2% $1,401
Massachusetts 37.8% $1,360
Michigan 28.4% $888
Minnesota 28.1% $1,016
Mississippi 32.7% $777
Missouri 32.9% $834
Montana 31.1% $831
Nebraska 33.7% $859
Nevada 43.4% $1,168
New Hampshire 29.0% $1,147
New Jersey 36.7% $1,376
New Mexico 31.9% $847
New York 46.5% $1,309
North Carolina 34.7% $931
North Dakota 38.7% $804
Ohio 34.0% $813
Oklahoma 34.5% $814
Oregon 37.1% $1,185
Pennsylvania 31.6% $951
Rhode Island 38.3% $1,043
South Carolina 29.7% $922
South Dakota 32.2% $769
Tennessee 33.5% $904
Texas 38.1% $1,091
Utah 29.4% $1,098
Vermont 29.1% $980
Virginia 33.9% $1,254
Washington 36.9% $1,359
West Virginia 26.6% $727
Wisconsin 32.8% $867
Wyoming 28.1% $822

Alabama

Alabama’s median rent is among the nation’s lowest.

  • 31.2% of households rent their homes.
  • The median gross rent is $807.
  • 592,353 rental units are occupied.
  • The rental vacancy rate is 12.3%.
  • 10.41% of occupied units are not rent-paying.
  • 35.2% of renters are under 35 years old.
  • 15.0% are 65 or older.
  • 15.7% of renters are not high school graduates.
  • 20.7% of renters have a bachelor’s degree or higher.
  • 5.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (52.2%) and Black or African American (42.6%).

Alaska

Alaska has the highest rate of American Indian and Alaska Native rentership in the nation; it’s over 50% higher than in South Dakota.

  • 35.3% of households rent their homes.
  • The median gross rent is $1,201.
  • 88,927 rental units are occupied.
  • The rental vacancy rate is 6.1%.
  • 8.27% of occupied units are not rent-paying.
  • 36.7% of renters are under 35 years old.
  • 11.7% are 65 or older.
  • 7.6% of renters are not high school graduates.
  • 23.7% of renters have a bachelor’s degree or higher.
  • 2.5% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.5%), Caucasian (59.8%), and American Indian and Alaska Native (15.9%).

Arizona

  • 34.7% of households rent their homes.
  • The median gross rent is $1,101.
  • 927,771 rental units are occupied.
  • The rental vacancy rate is 8.3%.
  • 4.83% of occupied units are not rent-paying.
  • 35.6% of renters are under 35 years old.
  • 15.6% are 65 or older.
  • 13.6% of renters are not high school graduates.
  • 25.0% of renters have a bachelor’s degree or higher.
  • 2.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (75.8%), Caucasian (52.1%), and Hispanic or Latino (30.6%).

Arkansas

The average renter is less educated than renters in other states.

  • 34.5% of households rent their homes.
  • The median gross rent is $742.
  • 401,838 rental units are occupied.
  • The rental vacancy rate is 9.0%.
  • 9.25% of occupied units are not rent-paying.
  • 37.0% of renters are under 35 years old.
  • 15.6% are 65 or older.
  • 13.8% of renters are not high school graduates.
  • 17.7% of renters have a bachelor’s degree or higher.
  • 3.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (67.4%), Caucasian (63.4%), and Black or African American (24.7%).

California

California has the nation’s third-highest rentorship rate and the second-highest median gross rent.

  • 45.1% of households rent their homes.
  • The median gross rent is $1,614.
  • 5.94 million rental units are occupied.
  • The rental vacancy rate is 4.7%.
  • 2.94% of occupied units are not rent-paying.
  • 30.5% of renters are under 35 years old.
  • 15.2% are 65 or older.
  • 17.4% of renters are not high school graduates.
  • 32.6% of renters have a bachelor’s degree or higher.
  • 6.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (59.4%), Caucasian (36.9%) and Hispanic or Latino (36.9%).

Colorado

Renters are more likely to be young and well-educated than in other states.

  • 34.1% of households rent their homes.
  • The median gross rent is $1,369.
  • 763,191 rental units are occupied.
  • The rental vacancy rate is 5.0%.
  • 3.01% of occupied units are not rent-paying.
  • 42.2% of renters are under 35 years old.
  • 13.0% are 65 or older.
  • 8.9% of renters are not high school graduates.
  • 35.3% of renters have a bachelor’s degree or higher.
  • 2.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (80.4%), Caucasian (63.1%), and Hispanic or Latino (23.8%).

Connecticut

Renters are more likely to be older and move less.

  • 35.0% of households rent their homes.
  • The median gross rent is $1,177.
  • 481,572 rental units are occupied.
  • The rental vacancy rate is 6.3%.
  • 3.58% of occupied units are not rent-paying.
  • 28.7% of renters are under 35 years old.
  • 19.3% are 65 or older.
  • 14.7% of renters are not high school graduates.
  • 28.8% of renters have a bachelor’s degree or higher.
  • 6.0% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.6%), Caucasian (51.8%), Hispanic or Latino (24.5%), and Black or African American (17.9%).

Delaware

Delaware’s demographics are on par with nationwide demographics.

  • 29.7% of households rent their homes.
  • The median gross rent is $1,116.
  • 111,736 rental units are occupied.
  • The rental vacancy rate is 4.9%.
  • 3.13% of occupied units are not rent-paying.
  • 36.0% of renters are under 35 years old.
  • 15.6% are 65 or older.
  • 13.3% of renters are not high school graduates.
  • 26.4% of renters have a bachelor’s degree or higher.
  • 3.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (52.2%), Caucasian (43.7%), and Black or African American (38.4%).

District of Columbia

Renters are more educated than in any state and most have a college degree.

  • 58.5% of households rent their homes.
  • The median gross rent is $1,603.
  • 170,582 rental units are occupied.
  • 1.56% of occupied units are not rent-paying.
  • 41.5% of renters are under 35 years old.
  • 14.2% are 65 or older.
  • 8.9% of renters are not high school graduates.
  • 54.3% of renters have a bachelor’s degree or higher.
  • 6.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are Black or African American (47.5%), White, including Caucasian, Hispanic or Latino (41.7%), and Caucasian (36.9%).

Florida

Renters tend to be a little older and more educated.

  • 33.8% of households rent their homes.
  • The median gross rent is $1,238.
  • 2.67 million rental units are occupied.
  • The rental vacancy rate is 7.0%.
  • 3.95% of occupied units are not rent-paying.
  • 29.6% of renters are under 35 years old.
  • 16.1% are 65 or older.
  • 12.9% of renters are not high school graduates.
  • 27.2% of renters have a bachelor’s degree or higher.
  • 2.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (69.2%), Caucasian (43.9%), Hispanic or Latino (31.1%), and Black or African American (21.8%).

Georgia

Georgia’s renting statistics are on par with nationwide data.

  • 35.9% of households rent their homes.
  • The median gross rent is $1,049.
  • 1.38 million rental units are occupied.
  • The rental vacancy rate is 6.5%.
  • 5.21% of occupied units are not rent-paying.
  • 35.9% of renters are under 35 years old.
  • 13.5% are 65 or older.
  • 14.1% of renters are not high school graduates.
  • 26.9% of renters have a bachelor’s degree or higher.
  • 3.5% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are Black or African American (46.2%), White, including Caucasian, Hispanic or Latino (43.9%), and Caucasian (39.0%).

Hawaii

Hawaii is the most expensive state for renters. Renters tend to be older and more educated.

  • 39.8% of households rent their homes.
  • The median gross rent is $1,651.
  • 185,339 rental units are occupied.
  • The rental vacancy rate is 8.7%.
  • 5.24% of occupied units are not rent-paying.
  • 29.0% of renters are under 35 years old.
  • 18.7% are 65 or older.
  • 8.2% of renters are not high school graduates.
  • 29.4% of renters have a bachelor’s degree or higher.
  • 7.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (33.7%), Caucasian (28.8%), Asian (28.5%), and Two or More Races (17.4%).

Idaho

With some of the most affordable rental housing in the nation, Idaho’s renters tend to be younger and less likely to have a college degree.

  • 28.4% of households rent their homes.
  • The median gross rent is $880.
  • 186,472 rental units are occupied.
  • The rental vacancy rate is 5.3%.
  • 5.65% of occupied units are not rent-paying.
  • 42.0% of renters are under 35 years old.
  • 15.3% are 65 or older.
  • 10.2% of renters are not high school graduates.
  • 22.0% of renters have a bachelor’s degree or higher.
  • 2.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (86.5%), Caucasian (78.8%), and Hispanic or Latino (13.5%).

Illinois

Median gross rents vary widely throughout different municipalities in the state though overall median rent is on par with the national average.

  • 34.0% of households rent their homes.
  • The median gross rent is $1,020.
  • 1.65 million rental units are occupied.
  • The rental vacancy rate is 8.5%.
  • 4.1% of occupied units are not rent-paying.
  • 35.4% of renters are under 35 years old.
  • 17.1% are 65 or older.
  • 11.9% of renters are not high school graduates.
  • 31.8% of renters have a bachelor’s degree or higher.
  • 5.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (60.5%), Caucasian (51.0%), Black or African American (25.4%), and Hispanic or Latino (16.5%).

Indiana

Renters are generally older and less educated.

  • 30.7% of households rent their homes.
  • The median gross rent is $840.
  • 797,282 rental units are occupied.
  • The rental vacancy rate is 8.6%.
  • 5.07% of occupied units are not rent-paying.
  • 37.2% of renters are under 35 years old.
  • 15.6% are 65 or older.
  • 12.8% of renters are not high school graduates.
  • 20.4% of renters have a bachelor’s degree or higher.
  • 3.6% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (72.3%), Caucasian (68.0%), and Black or African American (19.7%).

Iowa

Rent prices are among the lowest in the nation.

  • 29.5% of households rent their homes.
  • The median gross rent is $808.
  • 379,341 rental units are occupied.
  • The rental vacancy rate is 8.8%.
  • 5.91% of occupied units are not rent-paying.
  • 41.9% of renters are under 35 years old.
  • 18.0% are 65 or older.
  • 9.9% of renters are not high school graduates.
  • 22.5% of renters have a bachelor’s degree or higher.
  • 4.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.8%), Caucasian (77.5%), and Black or African American (9.4%).

Kansas

Rent is less expensive and rental vacancy is higher than average.

  • 33.5% of households rent their homes.
  • The median gross rent is $862.
  • 381,763 rental units are occupied.
  • The rental vacancy rate is 10.3%.
  • 5.21% of occupied units are not rent-paying.
  • 40.4% of renters are under 35 years old.
  • 16.2% are 65 or older.
  • 10.1% of renters are not high school graduates.
  • 25.7% of renters have a bachelor’s degree or higher.
  • 3.0% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.4%), Caucasian (69.5%), and Hispanic or Latino (11.5%).

Kentucky

Rent prices are lower than they are in 90% of states, and renters are less educated.

  • 33.0% of households rent their homes.
  • The median gross rent is $773.
  • 576,908 rental units are occupied.
  • The rental vacancy rate is 4.3%.
  • 9.12% of occupied units are not rent-paying.
  • 36.5% of renters are under 35 years old.
  • 15.1% are 65 or older.
  • 14.3% of renters are not high school graduates.
  • 19.7% of renters have a bachelor’s degree or higher.
  • 2.5% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (78.6%), Caucasian (75.6%), and Black or African American (15.7%).

Louisiana

Louisiana renters are some of the most impoverished and least educated.

  • 33.5% of households rent their homes.
  • The median gross rent is $866.
  • 583,424 rental units are occupied.
  • The rental vacancy rate is 8.7%.
  • 11.62% of occupied units are not rent-paying.
  • 35.0% of renters are under 35 years old.
  • 15.4% are 65 or older.
  • 17.4% of renters are not high school graduates.
  • 18.2% of renters have a bachelor’s degree or higher.
  • 5.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (47.9%), Black or African American (46.9%), and Caucasian (43.3%).

Maine

Renters are among the nation’s oldest and more impoverished.

  • 27.8% of households rent their homes.
  • The median gross rent is $870.
  • 159,499 rental units are occupied.
  • The rental vacancy rate is 5.4%.
  • 7.96% of occupied units are not rent-paying.
  • 32.2% of renters are under 35 years old.
  • 24.7% are 65 or older.
  • 9.5% of renters are not high school graduates.
  • 25.6% of renters have a bachelor’s degree or higher.
  • 6.6% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (93.7%), Caucasian (92.3%), and Black or African American (2.5%).

Maryland

Rent prices are very high and renters have higher incomes in general.

  • 33.2% of households rent their homes.
  • The median gross rent is $1,401.
  • 738,599 rental units are occupied.
  • The rental vacancy rate is 6.4%.
  • 3.21% of occupied units are not rent-paying.
  • 30.0% of renters are under 35 years old.
  • 18.2% are 65 or older.
  • 12.1% of renters are not high school graduates.
  • 34.4% of renters have a bachelor’s degree or higher.
  • 4.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are Black or African American (43.8%), White, including Caucasian, Hispanic or Latino (43.3%), and Caucasian (39.2%).

Massachusetts

Renters in Massachusetts are the most educated among the states and second only to D.C. in the rate of college-educated renters.

  • 37.8% of households rent their homes.
  • The median gross rent is $1,360.
  • 1.00 million rental units are occupied.
  • The rental vacancy rate is 3.7%.
  • 3.43% of occupied units are not rent-paying.
  • 32.4% of renters are under 35 years old.
  • 20.5% are 65 or older.
  • 13.0% of renters are not high school graduates.
  • 37.8% of renters have a bachelor’s degree or higher.
  • 6.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (70.3%), Caucasian (60.6%), and Hispanic or Latino (18.7%).

Michigan

Households are less likely to rent than they are in most other states.

  • 28.4% of households rent their homes.
  • The median gross rent is $888.
  • 1.13 million rental units are occupied.
  • The rental vacancy rate is 6.3%.
  • 5.09% of occupied units are not rent-paying.
  • 35.2% of renters are under 35 years old.
  • 18.0% are 65 or older.
  • 11.5% of renters are not high school graduates.
  • 23.1% of renters have a bachelor’s degree or higher.
  • 4.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.2%), Caucasian (60.6%), and Black or African American (26.9%).

Minnesota

Households are the third-least likely to rent.

  • 28.1% of households rent their homes.
  • The median gross rent is $1,016.
  • 624,172 rental units are occupied.
  • The rental vacancy rate is 3.3%.
  • 3.94% of occupied units are not rent-paying.
  • 38.1% of renters are under 35 years old.
  • 20.0% are 65 or older.
  • 10.0% of renters are not high school graduates.
  • 30.1% of renters have a bachelor’s degree or higher.
  • 3.5% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (73.6%), Caucasian (69.7%), and Black or African American (13.8%).

Mississippi

Some of the nation’s poorest and least educated renters live in Mississippi.

  • 32.7% of households rent their homes.
  • The median gross rent is $777.
  • 359,578 rental units are occupied.
  • The rental vacancy rate is 7.7%.
  • 13.63% of occupied units are not rent-paying.
  • 32.9% of renters are under 35 years old.
  • 15.1% are 65 or older.
  • 17.6% of renters are not high school graduates.
  • 16.6% of renters have a bachelor’s degree or higher.
  • 6.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are Black or African American (55.8%), White, including Caucasian, Hispanic or Latino (40.9%), and Caucasian (39.2%).

Missouri

Rent prices are lower than average while rental vacancy is higher.

  • 32.9% of households rent their homes.
  • The median gross rent is $834.
  • 808,318 rental units are occupied.
  • The rental vacancy rate is 8.5%.
  • 6.14% of occupied units are not rent-paying.
  • 37.6% of renters are under 35 years old.
  • 17.1% are 65 or older.
  • 11.8% of renters are not high school graduates.
  • 23.7% of renters have a bachelor’s degree or higher.
  • 3.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian or Hispanic or Latino (71.1%), Caucasian (68.5%), and Black or African American (21.5%).

Montana

Rental prices are lower than average, and renters are more likely to be under 35 years old.

  • 31.1% of households rent their homes.
  • The median gross rent is $831.
  • 136,195 rental units are occupied.
  • The rental vacancy rate is 4.7%.
  • 6.56% of occupied units are not rent-paying.
  • 41.1% of renters are under 35 years old.
  • 17.6% are 65 or older.
  • 6.1% of renters are not high school graduates.
  • 28.0% of renters have a bachelor’s degree or higher.
  • 4.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (85.6%), Caucasian (82.5%), and American Indian or Alaska Native (8.2%).

Nebraska

Most renters are under 35 and a little less likely to have a college degree.

  • 33.7% of households rent their homes.
  • The median gross rent is $859.
  • 260,074 rental units are occupied.
  • The rental vacancy rate is 5.8%.
  • 5.48% of occupied units are not rent-paying.
  • 41.7% of renters are under 35 years old.
  • 16.8% are 65 or older.
  • 9.5% of renters are not high school graduates.
  • 26.9% of renters have a bachelor’s degree or higher.
  • 4.9% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.0%), Caucasian (73.7%), and Hispanic or Latino (11.3%).

Nevada

Renters are less educated and have higher incomes.

  • 43.4% of households rent their homes.
  • The median gross rent is $1,168.
  • 496,039 rental units are occupied.
  • The rental vacancy rate is 4.7%.
  • 2.95% of occupied units are not rent-paying.
  • 30.8% of renters are under 35 years old.
  • 16.9% are 65 or older.
  • 14.3% of renters are not high school graduates.
  • 21.2% of renters have a bachelor’s degree or higher.
  • 2.1% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (61.3%), Caucasian (46.9%), Hispanic or Latino (26.3%), and Black or African American (16.0%).

New Hampshire

Renters are among the nation’s oldest, and rental vacancy is exceptionally low.

  • 29.0% of households rent their homes.
  • The median gross rent is $1,147.
  • 157,230 rental units are occupied.
  • The rental vacancy rate is 1.9%.
  • 4.23% of occupied units are not rent-paying.
  • 31.4% of renters are under 35 years old.
  • 22.5% are 65 or older.
  • 9.3% of renters are not high school graduates.
  • 28.4% of renters have a bachelor’s degree or higher.
  • 5.1% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (91.0%), Caucasian (87.3%), and Hispanic or Latino (5.7%).

New Jersey

Rent is among the nation’s highest, and rental vacancy is low.

  • 36.7% of households rent their homes.
  • The median gross rent is $1,376.
  • 1.20 million rental units are occupied.
  • The rental vacancy rate is 3.0%.
  • 2.76% of occupied units are not rent-paying.
  • 26.5% of renters are under 35 years old.
  • 19.2% are 65 or older.
  • 13.7% of renters are not high school graduates.
  • 32.1% of renters have a bachelor’s degree or higher.
  • 7.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (57.1%), Caucasian (39.4%), Hispanic or Latino (28.5%), and Black or African American (22.9%).

New Mexico

Rent prices are low as renting households are more likely to be low-income.

  • 31.9% of households rent their homes.
  • The median gross rent is $847.
  • 253,368 rental units are occupied.
  • The rental vacancy rate is 6.2%.
  • 8.83% of occupied units are not rent-paying.
  • 35.8% of renters are under 35 years old.
  • 16.9% are 65 or older.
  • 15.2% of renters are not high school graduates.
  • 26.3% of renters have a bachelor’s degree or higher.
  • 5.2% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (74.7%), Hispanic or Latino (44.3%), and Caucasian (40.7%).

New York

New Yorkers are more than twice as likely to live in one apartment long-term than in any other state.

  • 46.5% of households rent their homes.
  • The median gross rent is $1,309.
  • 3.46 million rental units are occupied.
  • The rental vacancy rate is 6.1%.
  • 3.45% of occupied units are not rent-paying.
  • 28.6% of renters are under 35 years old.
  • 21.0% are 65 or older.
  • 15.6% of renters are not high school graduates.
  • 34.9% of renters have a bachelor’s degree or higher.
  • 15.6% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (53.7%), Caucasian (44.3%), Hispanic or Latino (25.1%), and Black or African American (22.2%).

North Carolina

Rent prices are lower than average. Rental vacancy is also low.

  • 34.7% of households rent their homes.
  • The median gross rent is $931.
  • 1.40 million rental units are occupied.
  • The rental vacancy rate is 4.5%.
  • 6.37% of occupied units are not rent-paying.
  • 36.1% of renters are under 35 years old.
  • 14.7% are 65 or older.
  • 13.2% of renters are not high school graduates.
  • 26.5% of renters have a bachelor’s degree or higher.
  • 4.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (56.3%), Caucasian (60.7%), and Black or African American (34.0%).

North Dakota

Rental prices are among the nation’s lowest, and rental vacancy is extremely high.

  • 38.7% of households rent their homes.
  • The median gross rent is $804.
  • 125,108 rental units are occupied.
  • The rental vacancy rate is 14.1%.
  • 5.72% of occupied units are not rent-paying.
  • 48.5% of renters are under 35 years old.
  • 14.9% are 65 or older.
  • 7.7% of renters are not high school graduates.
  • 24.3% of renters have a bachelor’s degree or higher.
  • 3.0% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.4%), Caucasian (74.7%), and Black or African American (7.6%).

Ohio

Rent prices are lower and renters are less educated.

  • 34.0% of households rent their homes.
  • The median gross rent is $813.
  • 1.61 million rental units are occupied.
  • The rental vacancy rate is 4.6%.
  • 5.15% of occupied units are not rent-paying.
  • 35.9% of renters are under 35 years old.
  • 17.1% are 65 or older.
  • 12.2% of renters are not high school graduates.
  • 21.8% of renters have a bachelor’s degree or higher.
  • 2.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (68.8%), Caucasian (65.7%), and Black or African American (24.0%).

Oklahoma

Renters are younger and less educated than in other states.

  • 34.5% of households rent their homes.
  • The median gross rent is $814.
  • 515,253 rental units are occupied.
  • The rental vacancy rate is 7.9%.
  • 8.21% of occupied units are not rent-paying.
  • 38.9% of renters are under 35 years old.
  • 14.4% are 65 or older.
  • 13.5% of renters are not high school graduates.
  • 19.3% of renters have a bachelor’s degree or higher.
  • 3.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (66.6%), Caucasian (58.8%), and Black or African American (13.0%).

Oregon

Rent prices are higher than average, and households are more likely to rent.

  • 37.1% of households rent their homes.
  • The median gross rent is $1,185.
  • 612,227 rental units are occupied.
  • The rental vacancy rate is 5.4%.
  • 4.29% of occupied units are not rent-paying.
  • 35.6% of renters are under 35 years old.
  • 17.3% are 65 or older.
  • 9.3% of renters are not high school graduates.
  • 29.4% of renters have a bachelor’s degree or higher.
  • 3.1% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.3%), Caucasian (74.2%), and Hispanic or Latino (13.0%).

Pennsylvania

Households are less likely to rent, and renters are older than in other states.

  • 31.6% of households rent their home.
  • The median gross rent is $951.
  • 1.62 million rental units are occupied.
  • The rental vacancy rate is 8.1%.
  • 5.14% of occupied units are not rent-paying.
  • 34.2% of renters are under 35 years old.
  • 20.6% are 65 or older.
  • 11.9% of renters are not high school graduates.
  • 27.0% of renters have a bachelor’s degree or higher.
  • 6.2% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (70.7%), Caucasian (65.7%), and Black or African American (19.0%).

Puerto Rico

Renters are 21.6% more likely to be high school dropouts than renters in any state. Puerto Rican renters are also the least likely to move after New Yorkers.

  • 31.39% of households rent their home.
  • 367,522 rental units are occupied.
  • 24.8% of renters are under 35 years old.
  • 21.5% are 65 or older.
  • 21.5% are 65 or older.
  • 21.4% are not high school graduates.
  • 20.8% have a bachelor’s degree or higher.
  • 20.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are Hispanic or Latino (98.3%), White, including Caucasian, Hispanic or Latino (57.2%), and Black or African American (12.0%).
  • 21.3% of renters identify as another, unspecified race.

Rhode Island

Households are more likely to rent, and the average renter age is among the highest in the nation.

  • 38.3% of households rent their home.
  • The median gross rent is $1,043.
  • 156,028 rental units are occupied.
  • The rental vacancy rate is 2.1%.
  • 5.21% of occupied units are not rent-paying.
  • 28.4% of renters are under 35 years old.
  • 22.2% are 65 or older.
  • 15.6% of renters are not high school graduates.
  • 27.2% of renters have a bachelor’s degree or higher.
  • 5.9% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (74.0%), Caucasian (63.6%), and Hispanic or Latino (21.0%).

South Carolina

Households are much less likely to rent their homes.

  • 29.7% of households rent their homes.
  • The median gross rent is $922.
  • 587,423 rental units are occupied.
  • The rental vacancy rate is 8.4%.
  • 9.29% of occupied units are not rent-paying.
  • 34.6% of renters are under 35 years old.
  • 14.6% are 65 or older.
  • 15.6% of renters are not high school graduates.
  • 20.9% of renters have a bachelor’s degree or higher.
  • 5.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (51.6%), Caucasian (48.3%), and Black or African American (41.3%).

South Dakota

Rent prices are among the nation’s lowest, and renters are more likely to be low-income.

  • 32.2% of households rent their homes.
  • The median gross rent is $769.
  • 113,868 rental units are occupied.
  • The rental vacancy rate is 8.6%.
  • 8.27% of occupied units are not rent-paying.
  • 40.4% of renters are under 35 years old.
  • 19.7% are 65 or older.
  • 9.4% of renters are not high school graduates.
  • 23.3% of renters have a bachelor’s degree or higher.
  • 5.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (78.8%), Caucasian (75.5%), and American Indian or Alaska Native (10.5%).

Tennessee

Renters are less likely to have finished high school and more likely to be low-income.

  • 33.5% of households rent their homes.
  • The median gross rent is $904.
  • 889,017 rental units are occupied.
  • The rental vacancy rate is 8.4%.
  • 7.25% of occupied units are not rent-paying.
  • 37.5% of renters are under 35 years old.
  • 14.0% are 65 or older.
  • 14.0% of renters are not high school graduates.
  • 23.4% of renters have a bachelor’s degree or higher.
  • 4.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (65.0%), Caucasian (60.5%), and Black or African American (28.6%).

Texas

Renters are less educated, and rental vacancy is very high.

  • 38.1% of households rent their homes.
  • The median gross rent is $1,091.
  • 3.81 million rental units are occupied.
  • The rental vacancy rate is 9.9%.
  • 4.62% of occupied units are not rent-paying.
  • 39.3% of renters are under 35 years old.
  • 11.7% are 65 or older.
  • 15.5% of renters are not high school graduates.
  • 27.2% of renters have a bachelor’s degree or higher.
  • 2.9% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (65.7%), Caucasian (37.6%), Hispanic or Latino (35.6%), and Black or African American (20.7%).

Utah

Renters are among the youngest in the nation.

  • 29.4% of households rent their homes.
  • The median gross rent is $1,098.
  • 300,567 rental units are occupied.
  • The rental vacancy rate is 4.8%.
  • 3.8% of occupied units are not rent-paying.
  • 48.4% of renters are under 35 years old.
  • 10.0% are 65 or older.
  • 8.6% of renters are not high school graduates.
  • 26.7% have a bachelor’s degree or higher.
  • 1.8% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (83.4%), Caucasian (71.3%), and Hispanic or Latino (18.1%).

Vermont

Renting is less popular with households and renters are more likely to be over the age of 65.

  • 29.1% of households rent their homes.
  • The median gross rent is $980.
  • 76,515 rental units are occupied.
  • The rental vacancy rate is 2.6%.
  • 5.33% of occupied units are not rent-paying.
  • 36.7% of renters are under 35 years old.
  • 20.2% are 65 or older.
  • 9.5% of renters are not high school graduates.
  • 32.7% have a bachelor’s degree or higher.
  • 5.3% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (90.4%), Caucasian (88.7%), and Black or African American (4.1%).

Virginia

Rent prices are higher than average.

  • 33.9% of households rent their homes.
  • The median gross rent is $1,254.
  • 1.08 million rental units are occupied.
  • The rental vacancy rate is 4.8%.
  • 4.97% of occupied units are not rent-paying.
  • 35.4% of renters are under 35 years old.
  • 14.9% are 65 or older.
  • 12.1% of renters are not high school graduates.
  • 34.3% have a bachelor’s degree or higher.
  • 4.4% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (57.8%), Caucasian (51.8%), and Black or African American (29.6%).

Washington

Households are more likely to rent. Renters are also more educated.

  • 36.9% of households rent their homes.
  • The median gross rent is $1,359.
  • 1.08 million rental units are occupied.
  • The rental vacancy rate is 4.0%.
  • 3.62% of occupied units are not rent-paying.
  • 39.3% of renters are under 35 years old.
  • 15.3% are 65 or older.
  • 9.6% of renters are not high school graduates.
  • 32.4% have a bachelor’s degree or higher.
  • 3.1% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (71.3%), Caucasian (64.4%), and Hispanic or Latino (13.1%).

West Virginia

Fewer households rent in West Virginia. The state also has the lowest median gross rent nationwide and the highest rate of rental tenants who pay zero (0) dollars in rent.

  • 26.6% of households rent their homes.
  • The median gross rent is $727.
  • 193,607 rental units are occupied.
  • The rental vacancy rate is 5.3%.
  • 17.47% of occupied units are not rent-paying.
  • 34.9% of renters are under 35 years old.
  • 18.0% are 65 or older.
  • 15.5% of renters are not high school graduates.
  • 15.5% have a bachelor’s degree or higher.
  • 7.5% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (89.3%), Caucasian (88.8%), and Black or African American (7.3%).

Wisconsin

Rent prices are much lower than average.

  • 32.8% of households rent their homes.
  • The median gross rent is $867.
  • 782,717 rental units are occupied.
  • The rental vacancy rate is 4.6%.
  • 3.71% of occupied units are not rent-paying.
  • 37.6% of renters are under 35 years old.
  • 19.1% are 65 or older.
  • 9.6% of renters are not high school graduates.
  • 24.5% have a bachelor’s degree or higher.
  • 4.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.5%), Caucasian (72.6%), and Black or African American (12.8%).

Wyoming

Rent prices are low, and renting households are more likely to be low-income.

  • 28.1% of households rent their homes.
  • The median gross rent is $822.
  • 65,546 rental units are occupied.
  • The rental vacancy rate is 7.7%.
  • 9.44% of occupied units are not rent-paying.
  • 42.5% of renters are under 35 years old.
  • 14.4% are 65 or older.
  • 5.6% of renters are not high school graduates.
  • 24.2% have a bachelor’s degree or higher.
  • 2.7% of renting households have lived in their home for more than 20 years.
  • The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (89.4%), Caucasian (80.8%), and Hispanic or Latino (11.5%).

National Map: Rentership Among Households

Rental Industry

The residential building rental industry employs more people than automotive equipment rentals and consumer goods rentals combined.

  • The residential rental industry employs 834,000 as of February 2021, a 1.1% decline from February 2020.
  • Residential rentals employ 67.5% of the real estate rental industry and 49.2% of the real estate industry overall.
  • 382,400 or 45.9% of residential rental industry employees are women.
  • The average industry employee has an annual income of $47,965.
  • Wages for the average employee increased 1.03% over the previous year.
  • Residential property managers make an average annual income of $49,087.
  • Residential lessors make $46,445.
  • The average employee in the nonresidential rental industry makes $65,971 annually.
  • Nonresidential lessors make $68,175 per year and property managers make $64,113.

Sources

  1. U.S. Census Bureau, Rental Housing Finance Survey
  2. Census, American Community Survey, Subject Tables
  3. U.S. Bureau of Labor Statistics, Industries at a Glance: Real Estate and Rental and Leasing
  4. Business Insider, Student-Loan Debt and Skyrocketing Housing Prices Have Become So Bad That More Millennials Are Planning to Rent Forever
  5. Chicago Tribune, Millennial Renters are Giving Up on Homeownership, as COVID-19 and Financial Struggles Make 1 in 5 Say It’ll Never Happen