Rising home prices are pushing more people to rent that at any time in more than 50 years, according to a new report.
A new analysis of Census Bureau data by the Pew Research Center found that more US households are headed by renters than at any time since at least 1965, according to a MarketWatch report.
“The total number of households in the United States grew by 7.6 million between 2006 and 2016,” the Pew Research analysis said. “But over the same period, the number of households headed by owners remained relatively flat, in part because of the lingering effects of the housing crisis.”
The percentage of households renting was just over 31% in 2006. By 2016, it had risen to nearly 37%, MarketWatch reported.