Redfin Reports The Number of Renter Households Is Growing Three Times Faster Than Homeowner Households
Redfin reports a record 45.6 million renter households in Q3, showing a 2.7% year-over-year growth - three times faster than homeowner households' 0.9% increase. While median asking rents rose 0.6% annually, home prices increased 6% in September. San Jose leads with 52% rentership among major metros, followed by Los Angeles and New York. New multifamily construction reached a record pace of 647,000 annual units in Q3, though permits declined 16% year-over-year. Only 2.5% of U.S. homes were sold in the first eight months of 2024, marking the lowest rate in decades.
Redfin riporta un record di 45,6 milioni di nuclei abitativi in affitto nel terzo trimestre, evidenziando una crescita dell'2,7% rispetto all'anno precedente - tre volte più veloce rispetto all'incremento dell'0,9% dei nuclei abitativi di proprietari. Mentre i canoni di affitto medi sono aumentati dello 0,6% su base annua, i prezzi delle case sono cresciuti del 6% a settembre. San Jose è in testa con il 52% di affitto tra le principali aree metropolitane, seguita da Los Angeles e New York. La nuova costruzione multifamiliare ha raggiunto un ritmo record di 647.000 unità annuali nel terzo trimestre, anche se i permessi sono calati del 16% rispetto all'anno precedente. Solo il 2,5% delle case negli Stati Uniti è stato venduto nei primi otto mesi del 2024, segnando il tasso più basso degli ultimi decenni.
Redfin informa de un récord de 45,6 millones de hogares inquilinos en el tercer trimestre, mostrando un crecimiento del 2,7% interanual - tres veces más rápido que el aumento del 0,9% de los hogares propietarios. Mientras que los alquileres medianos aumentaron un 0,6% anualmente, los precios de las viviendas subieron un 6% en septiembre. San José lidera con un 52% de alquileres entre las principales áreas metropolitanas, seguido de Los Ángeles y Nueva York. La construcción de multifamiliares alcanzó un ritmo récord de 647,000 unidades anuales en el tercer trimestre, aunque los permisos cayeron un 16% interanual. Solo el 2,5% de las casas en EE. UU. se vendieron en los primeros ocho meses de 2024, marcando la tasa más baja en décadas.
레드핀은 3분기에 4,560만 가구의 세입자 가구 기록을 보고하며, 전년 대비 2.7% 성장을 나타냈습니다 - 주택 소유자 가구의 0.9% 증가보다 세 배 빠릅니다. 중간 임대료는 연간 0.6% 증가했으며, 9월에는 주택 가격이 6% 상승했습니다. 산호세는 주요 대도시 중 52%의 세입자 비율로 선두를 달리고 있으며, 그 뒤를 이어 로스앤젤레스와 뉴욕이 있습니다. 다가구 건설은 3분기에 연간 64만 7천 세대의 기록적인 속도에 도달했으나, 허가는 전년 대비 16% 감소했습니다. 2024년 첫 8개월 동안 미국 내 주택의 단 2.5%만이 판매되었으며, 이는 수십 년 만에 가장 낮은 비율을 기록했습니다.
Redfin rapporte un record de 45,6 millions de ménages locataires au troisième trimestre, affichant une croissance de 2,7% par rapport à l'année précédente - trois fois plus rapide que l'augmentation de 0,9% des ménages propriétaires. Alors que les loyers médians ont augmenté de 0,6% par an, les prix des maisons ont bondi de 6% en septembre. San Jose arrive en tête avec 52% de locataires parmi les grandes métropoles, suivi par Los Angeles et New York. La construction de logements multifamiliaux a atteint un rythme record de 647 000 unités annuelles au troisième trimestre, bien que les permis aient chuté de 16% par rapport à l'année précédente. Seulement 2,5% des maisons aux États-Unis ont été vendues au cours des huit premiers mois de 2024, marquant le taux le plus bas depuis des décennies.
Redfin berichtet von einem Rekord von 45,6 Millionen Mieterhaushalten im dritten Quartal, was ein Wachstum von 2,7% im Vergleich zum Vorjahr zeigt - dreimal schneller als der Anstieg der Eigentümerhaushalte von 0,9%. Während die mittleren Mietpreise jährlich um 0,6% stiegen, erhöhten sich die Hauspreise im September um 6%. San Jose führt mit 52% Mietern unter großen Metropolregionen, gefolgt von Los Angeles und New York. Der Bau von Mehrfamilienhäusern erreichte im dritten Quartal einen Rekordwert von 647.000 jährlichen Einheiten, obwohl die Genehmigungen im Jahresvergleich um 16% zurückgingen. Nur 2,5% der Häuser in den USA wurden in den ersten acht Monaten des Jahres 2024 verkauft, was die niedrigste Quote seit Jahrzehnten darstellt.
- Record multifamily construction rate of 647,000 annual units
- Stable rent growth at 0.6% YoY compared to 6% home price increase
- Growing rental market with 1.18 million additional renter households
- 16% decline in multifamily building permits YoY
- 47% drop in multifamily permits from post-pandemic high
- Historically low home transaction rate of 2.5%
Insights
The record growth in renter households signals a significant shift in the U.S. housing market dynamics. With
Several key metrics underscore this transformation:
- Home prices increased
6% year-over-year while rents rose only0.6% - Record multifamily construction at 647,000 annual units is helping moderate rent increases
- Historical low turnover rate of
2.5% in home sales indicates a severely constrained market
The divergence between coastal markets with high rentership rates (San Jose at
The
Renter households have formed faster than homeowner households for the past four quarters as the cost of buying a home rose faster than the cost of renting.
The median asking rent was up
In contrast, home prices climbed
“Affordable housing has been at the forefront of this election cycle because so many people are struggling to see how they will ever become homeowners—especially those from younger generations,” said Redfin Senior Economist Sheharyar Bokhari. “With home prices at record highs and mortgage rates remaining elevated, renting is increasingly the only viable choice for many young people and families. Building more homes will help address that, but we also have to recognize that Gen Z and future generations may not view homeownership as a life goal and the rentership rate may continue to rise for years to come.”
New multifamily units are being completed at a record pace
Part of the reason rents have remained stable—and renting has become more attractive to many—is the boom in multifamily construction over the past two years. The country is adding new multifamily housing units at an annual rate of 647,000 (as of the third quarter)—the fastest pace in records dating back to 1994.
The recent boom in multifamily construction helped meet surging demand in some areas—especially in Sun Belt states—but builders are now pumping the brakes. Permits to build multifamily housing units were down
More than half the households in
Nationwide, just over one-third (
The rentership share is highest in metros in
Rentership rates are lower in metros where, historically, it’s been more affordable to buy a home. In
To view the full report, including charts, methodology and additional metro level data, please visit: https://www.redfin.com/news/renter-household-growth-q3-2024
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, title insurance, and renovations 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. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241105783328/en/
Contact Redfin
Redfin Journalist Services:
Kenneth Applewhaite
press@redfin.com
Source: Redfin
FAQ
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