Realtor.com Analysis Shows 31.9% Young, 44.3% Family Renters Across 100 Metros
Realtor.com’s analysis of 100 largest U.S. metros segments renters into young (31.9%), family (44.3%) and long-term (36.1%) households concentrated in markets such as Austin and New York. It highlights affordability gaps, with 52.6% of renters affording market rent in young metros versus 32.0% in Miami and 33.6% in Los Angeles.
1. Overview of Report
Realtor.com analyzed 2024 American Community Survey data across the 100 largest U.S. metropolitan areas to map rental patterns. The report identifies three overlapping segments—young, family and long-term renters—highlighting cost, geography and access as primary drivers rather than preference.
2. Young Renters Segment
Households headed by adults under 34 account for 31.9% of all renters, typically earning $65,000 in two-person, two-bedroom homes. They cluster in mid-size inland markets with strong job growth; Colorado Springs (45.7%), Austin (44.6%) and Denver (43.5%) top the list, where 52.6% can afford fair market rent.
3. Family Renters Barrier
Family renters represent 44.3% of renter households, led by majority-minority markets like Stockton (63.3%), Riverside (61.7%) and McAllen (61.0%). A typical family renter earns $68,000 in a three-person, two-bedroom unit and faces home prices that exceed national affordability benchmarks alongside structural credit gaps.
4. Long-Term Renters Lock-In
Long-term renters, 36.1% of households, are concentrated in rent-regulated cities such as New York and Los Angeles and their spillovers. With a median income of $48,500 for two-person, two-bedroom households, only 39.2% could afford fair market rent if forced to move, creating a lock-in effect.