Hat tip to JP for sending this along, from USAToday.com:
In the aftermath of the nation’s housing-market collapse and recession, more than 500 midsize and large cities have seen a rise in the share of homes that are rented rather than owned, according to a USA TODAY analysis of Census data.
Nationally, 34.9% of occupied homes were rented in 2010 compared with 33.8% in 2000, according to Census data.
Almost 4 million homes have been lost to foreclosures in the past five years, turning many former owner-occupied homes into rentals.
The shift to rental housing is potentially long-lasting and portends changes for neighborhood stability and how people build wealth, economists say.
“The changes are big but glacial,” says Mark Zandi, economist at Moody’s Analytics.
Percentages of homes rented in SD cities with at least 50,000 people:
|Local City||% Rentals||Diff from 2000|
I’m not sure if 1-3% change over ten years equals big changes, but hey, Zandi said it!