When the Great Recession sent scores of Americans out of their homes and Millennials began to move out on their own, renting took off in the early 2010s.
By the mid-2010s, 111 million people were renting in the US, according to RENTCafe.com.
Then, for the first time since 2004, the number of renters declined in 2016, ticking down 0.1%, according to RENTCafe.com. Since then, the renter population has been on a downward trend, decreasing by 1% in 2019.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
