Homeowner Households Outpace Renter Households For First Time in a Decade

May 1, 2017

by Nena Perry-Brown

Census data released at the end of April shows that, for the first time since 2006, the number of owner-occupied households increased faster year-over-year than the number of renter households.

From the first quarter of 2016 to the first quarter of 2017, the number of owner-occupied households nationwide grew by 854,000 — over twice the number of new renter households, which grew by just 365,000. This reversal in household formation could be the first sign of a shift since the housing crisis over a decade ago, which led to significant growth in the rental housing market at the expense of homeownership.

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