Where the fewest people rent their homes in every state – 24/7 Wall St.
For the first time in the country’s history, median monthly rents in the United States have crossed the $2,000 mark. According to a report by real estate listing site Redfin, the median rent for all apartments listed nationwide is up 15% from a year ago. For those millions of Americans who lack the stability that home ownership provides, rising rents will take a heavy financial toll.
Nationally, 35.6% of housing is occupied by tenants. In most states, however, there is at least one county where renting is relatively rare.
To determine the county with the lowest rental rate in each state, 24/7 Wall St. looked at five-year estimates of the share of housing units that are occupied by renters among counties and county equivalents. from the US Census Bureau’s 2020 American Community Survey.
Young people are much more likely to rent houses than to buy. In a number of counties where a relatively small proportion of housing units are rentals, age appears to be a factor. According to the census, 23.2% of Americans are between the ages of 18 and 34. In the 50 places on this list, this demographic represents a smaller share of the population. In Sumter County, Florida, 8.6% of the population is between the ages of 18 and 34, one of the lowest proportions of any US county. These are the states where the population has increased since the start of the pandemic.
Click here to see the county with the lowest rental rate in each state.
Click here to see our detailed methodology.
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