Renter households climb to 36% of total in new Zillow analysis.
There were more renters in 2016 than in 2006 in each of the 50 largest U.S. cities, according to a new Zillow® analysis. In 2006, 31% of all U.S. households rented; today, more than 36% of all households rent. In 2000, prior to the housing boom, about 33% of all households were renter households.
Memphis, Tenn., Las Vegas and Honolulu reported the greatest increase in renters since 2006.
In Memphis, 56% of all households are renter households, up 11 percentage points since 2006. The renter rate in Las Vegas is just over 47%, up from 38% 10 years prior.
Home values across the country are rising over 8% annually, with some markets reporting double-digit home-value appreciation. The median home value in the San Jose, Calif. metro rose 27% over the past year, with 43% of all households renting, up about 5%age points since 2006.