Number of Renters on the Rise in the Triad

The percentage of residents who are renters continues to rise according to a report from a company named Abodo, which is based on the US Census’ 2015 American Community Survey. At over 40% the rate is higher than the US average:

The report’s authors noted that nationwide, the number of renters is on the rise. In the U.S., 2015 saw 1.4 million new renter households, meaning 36.4 percent of residents now rent or lease their homes. The figure represents the largest number of renter households since the 1960s.

In the Triad, Greensboro has the largest percentage of renters at 45.6 percent. High Point follows at 44.3 percent while 40.2 percent of those living in Winston-Salem don’t own their properties…

Another interesting piece of info from the report: in renter-majority cities the average age of owners is pretty high:

The majority of renters in the 21 renter-dominated cities are under 44 years old, with the highest percentage (24.29 percent) falling between the ages of 25 and 34. Owners tend to be older — a whopping 77.16 percent of them are over 45.

Age Group Breakdowns in Renter-Majority Cities

Source Triad Business Journal