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People also ask

  • Why are more people renting than buying a house?

  • Rents have risen rapidly and outpaced income in many areas of the country. This makes it harder for people to save up a down payment to buy a home, which leads to more people renting. A house can be a time and money sink.

  • How many people in the US live in rental housing?

  • More than one-third of U.S. residents rent their home. Most are under 45 years old and have attended college. 44.1 million or 35.9% of U.S. households rent their homes. The average renting household has 2.48 residents. 109 million Americans live in rental housing.

  • Can renters afford a home in the city?

  • A home in the city might be out of reach for most home buyers, but it might be doable for renters. Although rents can be high in areas where home values are also high, renters can more readily find an affordable monthly payment than homebuyers.

  • Should you buy a house or rent an apartment?

  • So renting (vs. buying a house) can save money, increase the odds you’ll get the home you want in the future and help you avoid a stressful buying process. Deciding whether to buy a house vs renting an apartment is always a complex decision.