LA has the fourth largest percentage of renters in U.S.: report

Los Angeles /
Feb.February 23, 2017 09:40 AM

Los Angeles has a significantly higher percentage of renters than other major U.S. cities, a new report shows.

About 54 percent of all Los Angeles homes, condos, and apartments are rented, compared to 50.7 percent in New York and 50.9 percent in San Francisco, according to the report from Adobo.

More than 60 percent of those renters are families rather than single-person households, a signal that the rising price of L.A. housing may be the culprit, Curbed noted. 

Cities with higher shares of renters compared to L.A. are typically college or military towns such as College Station, Texas; Athens, Georgia; and Killeen, Texas.

Renting is on the rise across the country. In 2015, 1.4 million new renter households were created, according to a report by Harvard’s Joint Center of Housing Studies. Harvard’s study shows that 21 U.S. cities had more renters than owners in 2015, up from just 12 in 2012. [Adobo] [ Curbed] — Cathaleen Chen


Related Articles

arrow_forward_ios
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Malibu spec mansion lists amid softening luxury market
Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion
CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

SoCal housing market shows signs of life, with a caveat: report
Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Fully affordable complex set to rise in vacant Long Beach lot
Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home
Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more
Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M
Andy Reid, the President of MetroStudy

The great SoCal slowdown: Homebuilding drops 18%

The great SoCal slowdown: Homebuilding drops 18%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...