Phoenix suburbs evolving into renter-centric areas

By Brent Ruffner | Your Valley

Tempe and several other Valley cities made the list of a cluster of U.S. suburbs that have evolved from homeowner territory to a renter-centric area.

The list, developed by rentcafe.com, said renters now comprise the majority of homes in Tempe — one of the cities that was homeowner territory 10 years ago, the report said.

The list said 103 total suburbs fit into that category, according to the report.

“The very definition of suburban living has been rewritten throughout the last decade as suburbs in the nation’s 50 largest metros gained 4.7 million people since 2010 — a whopping 79% of whom were renters, according to the latest U.S. Census data,” the report said. “Today, about 21 million people rent a suburban home in the 50 largest U.S. metros — 3.7 million more than 10 years ago. What’s more, between 2010 and 2019, the number of suburban renters grew by 22% — a number that dwarfs the 3% increase in suburban homeowners during the same period.”

But Thomas Brophy, national research director at Colliers in Phoenix, said he thinks the list of renter-centric areas might be bigger than just more than 100 U.S. suburbs.

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