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Redfin Report: America’s Renter Population Grew 1% in the Fourth Quarter

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Redfin (NASDAQ: RDFN) reports that U.S. renter households grew 0.8% year-over-year to 45.4 million in Q4 2023, marking the slowest growth since Q1 2023. Homeowner households also increased 0.8% to 86.9 million, the first time in over a year both metrics showed equal growth rates.

The report highlights that home prices are 40% above pre-pandemic levels, while rent prices are approximately 20% higher. Among the 75 largest U.S. metropolitan areas, only New York (51.9%) and Los Angeles (51.5%) have a majority of renting households, followed by Albany (48.4%), Fresno (48.3%), and San Francisco (46.2%). Conversely, the lowest rentership rates are in Cape Coral, FL (15.5%) and Dayton, OH (21.2%).

Nationally, 34.3% of households rent while 65.7% own, with rentership rates typically higher in expensive coastal metros. The rental market's recent supply increase has helped moderate rent growth.

Redfin (NASDAQ: RDFN) riporta che le famiglie di affittuari negli Stati Uniti sono cresciute dello 0,8% su base annua, raggiungendo 45,4 milioni nel Q4 2023, segnando la crescita più lenta dal Q1 2023. Anche le famiglie di proprietari sono aumentate dello 0,8%, arrivando a 86,9 milioni, la prima volta in oltre un anno che entrambe le metriche mostrano tassi di crescita uguali.

Il rapporto evidenzia che i prezzi delle case sono superiori del 40% rispetto ai livelli pre-pandemia, mentre i prezzi degli affitti sono circa superiori del 20%. Tra le 75 aree metropolitane più grandi degli Stati Uniti, solo New York (51,9%) e Los Angeles (51,5%) hanno una maggioranza di famiglie in affitto, seguite da Albany (48,4%), Fresno (48,3%) e San Francisco (46,2%). Al contrario, i tassi di affitto più bassi si trovano a Cape Coral, FL (15,5%) e Dayton, OH (21,2%).

Su scala nazionale, il 34,3% delle famiglie affitta, mentre il 65,7% possiede, con tassi di affitto generalmente più elevati nelle metropoli costiere costose. L'aumento recente dell'offerta nel mercato degli affitti ha contribuito a moderare la crescita degli affitti.

Redfin (NASDAQ: RDFN) informa que los hogares inquilinos en EE. UU. crecieron un 0.8% interanual, alcanzando los 45.4 millones en el cuarto trimestre de 2023, marcando el crecimiento más lento desde el primer trimestre de 2023. Los hogares propietarios también aumentaron un 0.8% a 86.9 millones, siendo la primera vez en más de un año que ambas métricas mostraron tasas de crecimiento iguales.

El informe destaca que los precios de las viviendas están un 40% por encima de los niveles previos a la pandemia, mientras que los precios de los alquileres son aproximadamente un 20% más altos. Entre las 75 áreas metropolitanas más grandes de EE. UU., solo Nueva York (51.9%) y Los Ángeles (51.5%) tienen una mayoría de hogares inquilinos, seguidas por Albany (48.4%), Fresno (48.3%) y San Francisco (46.2%). Por el contrario, las tasas de alquiler más bajas están en Cape Coral, FL (15.5%) y Dayton, OH (21.2%).

A nivel nacional, el 34.3% de los hogares alquilan mientras que el 65.7% poseen, con tasas de alquiler generalmente más altas en las costosas áreas metropolitanas costeras. El reciente aumento de la oferta en el mercado de alquiler ha ayudado a moderar el crecimiento de los alquileres.

레드핀 (NASDAQ: RDFN)은 미국의 세입자 가구 수가 2023년 4분기 기준으로 전년 대비 0.8% 증가하여 4,540만 가구에 이르렀으며, 이는 2023년 1분기 이후 가장 느린 성장률이라고 보고했습니다. 주택 소유 가구도 0.8% 증가하여 8,690만 가구에 이르렀으며, 이는 1년 이상 만에 두 지표가 동일한 성장률을 보인 첫 번째 사례입니다.

보고서는 주택 가격이 팬데믹 이전 수준보다 40% 높다고 강조하며, 임대료는 약 20% 더 높은 수준이라고 전했습니다. 미국의 75개 대도시 중에서 뉴욕 (51.9%)과 로스앤젤레스 (51.5%)가 세입자 가구의 대다수를 차지하며, 이어서 올바니 (48.4%), 프레즈노 (48.3%), 샌프란시스코 (46.2%)가 뒤를 잇습니다. 반면, 가장 낮은 임대율은 케이프 코럴, 플로리다 (15.5%)와 데이턴, 오하이오 (21.2%)에 있습니다.

전국적으로 34.3%의 가구가 임대하고 있으며 65.7%가 소유하고 있으며, 임대율은 일반적으로 비싼 해안 대도시에서 더 높습니다. 최근 임대 시장의 공급 증가가 임대료 성장 완화에 기여했습니다.

Redfin (NASDAQ: RDFN) rapporte que les ménages locataires aux États-Unis ont augmenté de 0,8 % d'une année sur l'autre, atteignant 45,4 millions au quatrième trimestre 2023, marquant la croissance la plus lente depuis le premier trimestre 2023. Les ménages propriétaires ont également augmenté de 0,8 % pour atteindre 86,9 millions, la première fois en plus d'un an que les deux indicateurs affichent des taux de croissance égaux.

Le rapport souligne que les prix des maisons sont 40 % supérieurs aux niveaux d'avant la pandémie, tandis que les prix des loyers sont environ 20 % plus élevés. Parmi les 75 plus grandes zones métropolitaines des États-Unis, seules New York (51,9 %) et Los Angeles (51,5 %) comptent une majorité de ménages locataires, suivies par Albany (48,4 %), Fresno (48,3 %) et San Francisco (46,2 %). En revanche, les taux de location les plus bas se trouvent à Cape Coral, FL (15,5 %) et Dayton, OH (21,2 %).

Au niveau national, 34,3 % des ménages sont locataires tandis que 65,7 % sont propriétaires, avec des taux de location généralement plus élevés dans les métropoles côtières coûteuses. L'augmentation récente de l'offre sur le marché locatif a contribué à modérer la croissance des loyers.

Redfin (NASDAQ: RDFN) berichtet, dass die Haushalte von Mietern in den USA im vierten Quartal 2023 im Vergleich zum Vorjahr um 0,8% auf 45,4 Millionen gewachsen sind, was das langsamste Wachstum seit dem ersten Quartal 2023 darstellt. Auch die Haushalte von Eigentümern sind um 0,8% auf 86,9 Millionen gestiegen, zum ersten Mal seit über einem Jahr zeigen beide Kennzahlen gleiche Wachstumsraten.

Der Bericht hebt hervor, dass die Immobilienpreise 40% über den Werten vor der Pandemie liegen, während die Mietpreise etwa 20% höher sind. Unter den 75 größten Metropolregionen der USA haben nur New York (51,9%) und Los Angeles (51,5%) eine Mehrheit von Miethaushalten, gefolgt von Albany (48,4%), Fresno (48,3%) und San Francisco (46,2%). Im Gegensatz dazu sind die niedrigsten Mietquoten in Cape Coral, FL (15,5%) und Dayton, OH (21,2%).

Auf nationaler Ebene mieten 34,3% der Haushalte, während 65,7% Eigentum besitzen, wobei die Mietquoten in teuren Küstenmetropolen typischerweise höher sind. Der jüngste Anstieg des Angebots auf dem Mietmarkt hat dazu beigetragen, das Mietwachstum zu moderieren.

Positive
  • Rental market supply increase helps moderate rent growth
  • Equal growth rates between renter and homeowner households indicates market stabilization
Negative
  • Home prices 40% above pre-pandemic levels affecting affordability
  • Slowest renter household growth since Q1 2023 at 0.8%

New York and Los Angeles are the only metro areas where the majority of households rent. Renting is least common in Cape Coral, FL and Dayton, OH.

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) —The number of renter households in America increased 0.8% year over year to 45.4 million in the fourth quarter—the slowest growth since the first quarter of 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The number of homeowner households rose 0.8% to 86.9 million—a growth rate that’s little changed from recent quarters.

That marks the first time in over a year that the number of renter and homeowner households are increasing at the same rate. Prior to this, the number of renter households had been growing faster for four-straight quarters.

Home prices are more than 40% above pre-pandemic levels, while rent prices are roughly 20% above pre-pandemic levels. This is one reason why the rentership rate has recently been rising faster than the homeownership rate. The rental market has seen an influx of supply over the last few years, helping to keep rent growth at bay.

“Owning a home used to be the crux of the American dream, and while many still consider it a rite of passage, a lot of people are opting to rent for longer because they can’t afford to buy a place of their own,” said Redfin Chief Economist Daryl Fairweather. “Even people who can afford to buy homes are choosing leases over mortgages, often because they want a flexible, low-maintenance lifestyle, or want to invest their money somewhere other than real estate. Affluent renters have become more common in nearly three-quarters of major metros since 2019.”

There Are Only Two Metros Where Renters Are the Majority

Just over one-third (34.3%) of U.S. households rent, while nearly two-thirds (65.7%) own—rates that have remained pretty steady over time. But the rentership rate is much higher in pricey coastal metros.

In New York, 51.9% of households rented in the fourth quarter—the highest share among the 75 largest U.S. metropolitan areas. Next came Los Angeles (51.5%), Albany, NY (48.4%), Fresno, CA (48.3%) and San Francisco (46.2%).

Rentership rates tend to be highest in places where it’s expensive to buy a home. All but two of the aforementioned metros (Fresno and Albany—the New York state capitol) have median home sale prices above the national level. A recent Redfin report found that pricey coastal markets have the highest share of wealthy renters.

Renting is least common in places with relatively low home sale prices. In Cape Coral, FL, 15.5% of households rent—the lowest share among the metros Redfin analyzed. It’s followed by Dayton, OH (21.2%), Toledo, OH (21.9%), Columbia, SC (22%) and North Port, FL (22.3%).

This is based on a Redfin analysis of U.S. Census Bureau data going back to 1994. A renter household is defined as one where the head of the household reports to the Census that they are renting out the property, while a homeowner household is one where the head of household reports they own the property. The number of homeowner and renter households have been hovering near record highs because the U.S. population is at a record high.

To view the full report, including charts and metro-level data, please visit: https://www.redfin.com/news/rentership-rate-q4-2024

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

Contact Redfin

Redfin Journalist Services:

Kenneth Applewhaite

press@redfin.com

Source: Redfin

FAQ

What is the current growth rate of renter households according to Redfin (RDFN)?

Renter households grew 0.8% year-over-year to 45.4 million in Q4 2023, the slowest growth since Q1 2023.

How much have home prices increased compared to rent prices since pre-pandemic levels?

Home prices are over 40% above pre-pandemic levels, while rent prices are approximately 20% higher.

Which U.S. cities have the highest percentage of renter households in Q4 2023?

New York (51.9%) and Los Angeles (51.5%) are the only major metros where the majority rent, followed by Albany (48.4%).

What is the current national rentership rate versus homeownership rate?

34.3% of U.S. households rent, while 65.7% own their homes.
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