From Home Furnishing Business
Fast Fact: In 2017, Half of Renters Above 25 Were 45 and Over
2019 by Laurie Northington in Economic News, Industry
The Great Recession was a catalyst for many households choosing to rent versus buying a home. Now safely past the recession, data from the U.S. Census Bureau shows that the appeal of renting has not slowed down.
As expected, renter-occupied housing leans toward younger age groups with 8.6 percent of all renters under the age of 25. With that said, apartment rentals are increasingly growing into a broader mix of old and young. For households over age 25 in 2017, about half of all renters were age 45 and over.
For a closer look at the data, click here.