By Suzanne De Vita | RISMedia
More households in America are headed by renters now than at any other time in the last 50 years, with owner household formation toppled by renter household formation in the past 10, according to a recent analysis of Census Bureau data by the Pew Research Center. Owner households dialed back from 76.1 million in 2006 to 75 million in 2016, while renter households expanded from 34.6 million to 43.3 million.
Pew researchers attribute the recent growth in renter households to not only groups that conventionally rent, such as young adults, but also to groups that have historically owned, such as middle-aged adults. In fact, from 2006 to 2016, renter households headed by those aged 35 to 44 and 45 to 64 climbed 10 percent and 6 percent, respectively.
