Renters are majority in big cities

renters-insuranceBy Laura Kusisto and Kris Hudson | The Wall Street Journal

American cities—and not just the priciest ones—are more and more the domain of renters.

Renters made up the majority of the population in cities at the core of nine of the nation’s 11 largest metro areas in 2013, a sharp change from 2006, when renters were the majority in just five of those cities, according to a new report.

Cities have always had a larger number of renters when compared with suburban areas, in part because the cost of owning a home within a city’s limits is out of reach for many residents, especially in high-cost places such as New York, San Francisco and Washington, D.C.

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