The number of U.S. renter and homeowner households grew at the same rate (0.8%) during the fourth quarter of 2024. That is the slowest growth rate for renter households since the first quarter of 2023, while growth from homeowners changed little from recent quarters, according to Redfin data.
This marks the first time in more than a year that renter and homeowner households are increasing at the same rate, according to Redfin data. The number of renter households has been growing faster for four straight quarters.
Renter households stood at 45.4 million for the last three months of 2024 and the number of homeowner households stood at 86.9 million. Redfin said home prices are 40% above pre-pandemic levels and rent prices are 20% higher, with new supply keeping rent growth at bay.
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