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Long-Term Renters More Likely to Live in Single-Family Units

Large multifamily properties are home to the largest percentage of first-time renters.

By Kristen Smithberg | February 05, 2025 at 05:52 AM

Large multifamily properties tend to have the most transient renter mix, with 30.5% of rental households in structures with 50 or more rental units on their first lease, the highest share of any property type. About 55% of these households remained in the same unit for longer than two years, and only about 28% stayed for longer than five years.

This is according to an analysis by Chandon Economics, which studied 2023 Census Bureau data to find out how tenancy duration differs across rental property types.

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