Realtor Magazine recently carried an interesting piece asking, “Is it still a good time to be a landlord?” In the article they report data showing that the renter population in the nation’s largest cities are outpacing owners. The data was taken from RentCafe, which is an apartment and house rental listing company. They compared U.S. Census data from 2006 – 2016. The data included some of the following points of interest:
- The number of renters has increased by more than 23 million and homeowners by less than 700,000
- Rentership growth has outpaced homeownership in 97 of the 100 largest cities
- From 2007 to 2015, the renter population has been growing faster than the owner population.
- However, in 2010, the gap started to show signs of closing. By 2016, the trend started looking more similar to what it did prior to the recession.
Below find the specific data provided for Milwaukee: