AZBigMedia
This past decade has transformed the relationship between America and its housing, especially when it comes to renting. While the recession pushed many to rent out of necessity, the economic expansion which followed, coupled with changing attitudes towards family and homeownership, lead to the rise of the renter by choice. Rentership rates expanded across the board—from young families to seniors, from city cores to suburbs, many Americans have shifted away from homeownership.
Here are the decade’s highlights for Phoenix:
• In the past decade, the Phoenix Metro area saw a positive net migration of 42,000 renters. This means more people came to the Valley to rent, compared to those that left. Los Angeles is the main contributor to this migration, with almost 12,000 movers.
