Young renter households – here defined as households headed by an adult younger than 34, typically living in a 2 bedroom unit – currently represent 31.9% of renters in the United States. 34% of these are single households.
And where are they living? Well, for the most part it’s not where we most often associate with young people building careers – New York, San Francisco, Boston, Los Angeles – but more affordable, midsize, and frequently inland.
The top metro areas by young renter share include:
- Colorado Springs, CO – 45.7%
- Austin, TX – 44.6%
- Denver, CO – 43.5%
- Salt Lake City, UT – 41.7%
- Grand Rapids. MI – 41.7%
- Indianapolis, IN – 40.1%
- Des Moines, IA – 39.8%
- Columbia, SC – 39.5%
- San Antonio, TX – 38.7%
- Charleston, SC – 38.6%