Metros Where Renters Earn Enough To Buy, But Don’t

At 62.9 percent, the homeownership rate is as low as it has been for a long while. Many renters could help turn that around, but aren’t.

Zillow found the cities with the most financially-secure renters, the people who could afford to buy. The data was based on renters with a credit score of 700 or higher, and those who earned a monthly income equal to or greater than the monthly income necessary to afford the typical rent in the respective areas. The site found that 13.6 percent of on-market renters had strong credit scores and had a high monthly income, meaning that they could afford a home if they so desired.