Renting can sometimes be considered more of a young person's living strategy - those from early college age into their late 20s - but data from the Pew Research Center makes it clear that things aren't nearly so cut and dried. As of 2016, 43.3 million people referring to themselves as heads of household (which includes single individuals) for U.S. Census Bureau questionnaires said they rented their residences. Percentage-wise, that comes out to 36.6 percent, which is close to the all-time-high 1967 figure of exactly 37 percent. Additionally, renting rates are up among demographic groups traditionally viewed as homeowners, such as middle-aged adults.
All told, renting in America is on a significant upward trajectory.Read More