Renters Are On the Rise in Texas

Fewer US families own homes due to soaring prices and a shortage of entry-level homes.

HOUSTON—Families with minor children who traditionally buy homes by the time those children reach school-age are starting to fade. Fewer US families own homes due to soaring prices and a shortage of entry-level homes. In the decade between 2006 and 2016, the drop in the number of families with children who own homes has reached almost 3.6 million, while the same demographic living in rentals has increased by 1.9 million, according to a study by RentCafe.

US Census demographics data analyzed in a national study by RentCafe showed that in the period between 2006 and 2016, there was a 14% decrease in homeowner households with minor children and a 16% increase in renters in the same demographic. In total, 14.3 million US households with minor children rent (up from 12.4 million in 2006) and 22.1 million families with minor children own homes (down from 25.7 million in 2006).