Renting Statistics

More than one-third of U.S. residents rent their home and most are under 45 years old and have attended college.

44.1 million or 35.9% of U.S. households rent their homes.

The average renting household has 2.48 residents.

109 million Americans live in rental housing.

48,248 or 0.11% of rental homes are rent-controlled.

127 working hours is the weekly requirement for minimum wage earners to afford the average apartment.

5.5% of renters have lived in their homes for more than 20 years.

34.4% of renters are under the age of 35.

16.5% are aged 65 years and older.

86.4% of renters are high school graduates or equivalent.

64.1% of renters are White, including Caucasian, Hispanic or Latino.

51.8% of renters are Caucasian, 20.3% are Black or African American, and 19.7% are Hispanic or Latino.*

The number of renters increased between 2006 and 2016 by 23 million, compared to the number of homeowners, which increased by less than 700,000 in the same period.

With the current robust Real Estate market comes inefficient and outdated processes in the form of property maintenance, vendor tracking and assignment, and the tracking of open jobs. Most maintenance companies still operate by phone or are slow to respond by email. Property managers lack coordination between vendors and tenants. There is often a significant amount of back-and-forth communication needed to simply schedule and complete necessary repairs and maintenance.

This causes severe delays and minor issues can become expensive problems. Property managers spend too much time attempting to allocate time slots for their maintenance teams. Keeping track of open job tickets, a seemingly simple matter, becomes no easy task when multiple vendors and outside agencies are managed. Also, when it comes to billing and providing proof of job completion, the simple task of collecting appropriate data from tenants and vendors then passing that on to landlords results in delayed payments and lost invoices.