Picking up on our article on young renters, what about long-term renters, households that remain in the same unit for five or more years?
Not surprisingly, these households typically feature a 55-adult at the head and have a fairly low median household income of $48,500. many have no choice but to stay where they are. And they tend to be in the large metro areas – New York City (53.3%) and Los Angeles (49.6%).
Others are in surrounding areas. Those who can’t afford New York may look to Bridgeport, CT (43%). California renters can be found in Oxnard (49.5%), Fresno (49.3%), Bakersfield (44.7%), Stockton (47.9%), and Riverside (44.5%).
In the Northeast, Providence (44.4%) and Worcester (44%) have significant long-term renters.