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vHomeInsurance, a data-driven insurance research service, has published a new study on the percentage of renters based on different demographics. vHomeInsurance analyzed the percentage of renters according to their age, race/ethnicity, and educational attainment. The findings of the study are published in the form of an infographic for simple and easy understanding.
vHomeInsurance examined the data available with the U.S. Census Bureau and research organizations to publish the study. The percentage of renters has seen a steady rise in the last few years, reaching 43.3% in the year 2016. This marks the highest percentage of renters since 1965. The increase in the percentage of renters has risen from 2006, with the number of households also increasing by 7.6 million during the course of 2006 to 2016. The study also revealed the increase in the percentage of renters, by different demographics from 2006 to 2016.
The study revealed that the percentage of Black and Hispanic renters was twice as much as White renters. However, the percentage of White renters was less than the overall national percentage of renters. The same trend was seen in 2006 as well as in 2016. With respect to the age of householders, the percentage of renters decreased with an increase in age. Similarly, householders with lower educational levels were more likely to rent their homes.
About vHomeinsurance
vHomeInsurance takes a data driven approach to help consumers evaluate the best home insurance companies and topics impacting the home insurance industry.
