Sentences with phrase «renter households»

It includes a look at the standard census data on homeownership, home loan application data collected in accordance with the Home Mortgage Disclosure Act (HMDA), and Federal Reserve data on the financial assets owned by renter households.

Fewer new renter households are being formed, rental vacancy rates have risen, and rent increases have slowed.

In contrast, rental markets continued to grow, fueled by another year of large increases in the numbers of renter households.

The decline in homeownership since its peak in 2004 reflects two key trends: a drop in the number of renter households becoming owners, and a rise in the number of homeowners becoming renters, whether by choice or because of economic distress.

A substantial portion of the ongoing falloff in homeownership reflects fewer renter households transitioning to homeownership, rather than homeowners being forced out of the market through foreclosure or other financial difficulty.

Moreover, these changes were unevenly distributed across renter households, primarily affecting those who are least able to afford it.

«The city of Glendale, including the South Glendale submarket, has witnessed an explosion in renter households, rising by approximately 31 percent since 2000.

Some renters are in an even tighter jam: 25 % of renter households pay more than half of their income for housing.

Meanwhile, aggregate increases in foreign - born renter households have also been on the rise.

He notes that more than 50 percent of the net increase in renter households over the past decade came from the 45 - plus demographic.

Also, more Americans are showing a preference for owning: The number of owner households increased by 755,000 from a year ago, while the number of renter households fell 348,000, according to the Census Bureau report.

This expanded the options available to the growing population of renter households, but also constrained the supply of entry - level properties in the for - sale market.

«This is because renter households are growing at a much faster rate than owner households, reflecting growing confidence of those who were most likely impacted by the foreclosure crisis.»

That's approximately 5.5 million renter households.

This contributed to the growing number of renter households early in the recession.

A recent report released by Harvard University's Joint Center for Housing Studies said that renter households rose to a 20 - year high of 35.5 percent in 2014, and the Urban Institute expects that level to continue to rise until at least 2030,» said Don Ganguly, CEO of HomeUnion.

In 2006, the median annual shelter cost for renter households was $ 8,057.

Renter households had a higher share of households spending 30 per cent or more on shelter — 40.3 per cent in 2006, compared with 39.6 per cent in 2001.

Renter households now make up the majority in 42 of the 100 largest cities in the U.S., according to RENTCafé.

They found that demographic trends alone would raise the number of severely burdened renter households by 11 percent, from an estimated 11.8 million in 2015 to 13.1 million in 2025.

These solutions must address incentives for the production of new affordable and workforce housing, the preservation of existing housing (especially important for meeting the needs of workforce housing), reducing the cost of developing new affordable housing, the efficient use of the growing inventory of single - family rental housing and increased subsidies to low income and workforce housing renter households.

Over the last decade, the share of renter households in the U.S. has increased significantly as homeownership rates have fallen from 69.2 percent in 2004 to 63.4 percent...

Over the last decade, the share of renter households in the U.S. has increased significantly as homeownership rates have fallen from 69.2 percent in 2004 to 63.4 percent in 2015, the lowest level since 1967, according to a recent joint report by the Joint Center for Housing Studies of Harvard University and Enterprise Community Partners.

Baby boomers aged 55 and older represented one - quarter of renter households in 2014, an increase of 42 percent over the last decade.

As the homeownership rate declined, the number of renter households grew sharply — by more than a million in 2012 alone.

In the first quarter of 2017, the number of new - owner households was double the number of new - renter households.

Adding «Record numbers of U.S. renter households are spending more than 30 percent of their income, and in many cases more than half their income, on housing costs» (By the way, the general rule - of - thumb is that housing costs should not exceed 30 percent of a household's total income).

On the contrary, while homeownership may be slowly on the rise, experts predict the number of renter households is likely to continue to increase at a healthy clip, driving up the need for additional supply.

Zillow recently revealed that the 43 million renter households in the US spent $ 535 billion on rent in 2015.

There are 10,000 new renter households every year, leaving a shortfall of 5000 rental units.

Meanwhile, Green Street projected that of the 3.9 million new renter households that are estimated to be coming to market by 2020, nearly 40 percent will opt for single - family residences.

The underlying 2004 sample size of renter households are shown to the right:

Five to six million new renter households may be created within the next 10 years, likely caused from low inventories of homes available and tight credit conditions, according to the Bipartisan Policy Center.

Nearly half of all renter households were considered «cost - burdened» in 2015, meaning they are spending more than 30 percent of their incomes on rent, according to the Harvard Joint Center for Housing Studies.

are entering the market, with new - owner households outnumbering new - renter households and the share of first - time buyers slowly increasing.

In fact, more than half of the net increase in renter households over the past decade came from the 45 - plus demographic.»

With renter households growing at a faster rate than owner households, landlords are at an advantage in the rental market.

This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households.

That percentage could well increase as the number of renter households is at an all - time high and projected to increase faster than the new households purchasing homes.

«There have been 1.6 million new renter households created in the past five years,» said Rick Haughey, Vice President of Industry Technology Initiatives with the National Multifamily Housing Council.

Over the past decade, renter households have grown by 8 million, while home owner households have fallen by 2 million.

For example, there are about 17.8 million renter households with sufficient annual income — at least $ 36,000 — to buy a $ 177,000 home at a 3.5 percent mortgage rate, compared to 14.9 million at a 5 percent mortgage rate.

For commercial practitioners, the rise in renter households is good news for the multifamily sector.

Despite U.S. population growth of roughly 1 percent per year, the number of owner households has held steady, in the range of 75 million since 2007, while the number of renter households has increased from 35 million in 2007 to nearly 40 million today.

Over the last five years, the share of cost - burdened owner households has seen a sharper decline than the share of cost - burdened renter households: 6.5 percent versus 1.9 percent.

The low mortgage rates, supported by an accommodating Federal Reserve that dropped its benchmark overnight bank rate to a historically low 1 percent in 2003, made move - up buying attractive to existing homeowners and encouraged new, immigrant, and renter households to jump into the market.

More than 8 million renter households were identified as having «worst case housing needs,» or burdened by rent and / or living in unsuitable conditions, in 2015, according to a recent report by the U.S. Department of Housing and Urban Development (HUD)-- the second - highest share ever recorded.

Low - income, minority and renter households are expected to considerably contribute to growth, with affordability playing a major role, specifically, in renters making the transition to homeownership.

Yun says the inability for renter households to become homeowners is leaving them behind financially.

Renter households are also over-represented among those in core need housing need.