The number of renter households across the United States rose by 2.7 percent year over year in the third quarter, reaching a record 45.6 million households, according to a Nov. 5 report from the real estate brokerage Redfin.
“That rate of growth is three times faster than the 0.9 percent increase in homeowner households, which now total a record 86.9 million,” the company said in the report. “The 2.7 percent increase—representing 1.18 million additional renter households—was the second fastest pace since 2015.”
The number of renter homes has been increasing at a faster pace than homeowner households for the past four quarters owing to high purchase prices, the brokerage said….