Between 2011 and 2020, the total share of renters in the U.S. rose by 12% compared to a 4% growth in homeowners, and in that same time frame, 101 zip codes switched from owner- to renter-majority. Columbus, OH, saw perhaps the largest increase in renters over the last 10 years with a whopping 157% gain. As of 2020, 68% of the people living in Columbus’ 43420 zip code were renters, according to RentCafe.
Over the last 10 years, Chicago saw a similar increase with 151% growth in its share of renters, accounting for 63% of its resident population. The most popular zip codes for renters are predominantly located in city cores, where Millennials and Gen Zers are flocking for work opportunities and thriving social scenes.
The first zip code on the list is 43240 in Columbus, OH. About 68% of the people living in Columbus’ 43420 are renters — as a result of a whopping 157% increase in the last 10 years. A densely populated area, the zip code largely overlaps with the Polaris neighborhood, which is home to a community of young renters with a median age of 31. Here, residents earn a per capita income of $43,000 — 25% higher than that of the Columbus metro area, per Census data.
Next up is followed by Chicago’s 60606, which coincides with the West Loop neighborhood. In this area, the number of renters grew by two and a half times in a decade (151%). A thriving community that flaunts a 63% renter population, its residents are mostly Millennials and Gen Zers with high academic achievements.
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