85+ Homeowners vs Renters Statistics: The Wealth Divide (2025)

We’ve compiled 85+ essential homeowners vs renters statistics to reveal the growing economic divide between property owners and renters in 2025. Our data provides a clear snapshot of America’s evolving housing landscape.

Drawing from our own REsimpli survey, and other trusted third-party authorities, these statistics highlight key trends across demographics, finances, market indicators, and housing vulnerabilities.

Top Homeowners vs Renters Statistics (Editor’s Pick)

• 63.2% in REsimpli’s survey of real estate professionals predict the residential market will be the most significantly impacted sector in the LA region due to widespread wildfires
• White Americans account for 73.3% of homeowners, compared to 44.1% for Black Americans, 50.6% for Hispanic Americans, and 60.5% for Asian Americans
• 47% of renters say they rent because they can’t afford to buy a home
• The median age of a first-time homebuyer is 33 years old
• Over 40% of renters are now searching for pet-friendly apartments
• 40% of renters say affordability is their top priority when searching for housing
• Over 70% of U.S. homeowners are 45 or older
• The median household wealth among homeowners is 3,709% higher than it is among renters
• 52% of homeowners would need a mortgage rate below 6% to feel comfortable buying a home this year
• 91 of the 100 largest U.S. cities have seen rent increases over the last year

Ownership vs Rental Rates & Demographics

Homeownership and rental patterns serve as critical indicators of economic opportunity across America’s diverse population. These statistics highlight key disparities in ownership and rental rates across racial, geographic, and household categories, revealing where housing gaps persist.

• The homeownership rate in the United States is 65.8%
• Homeownership rates are highest in the Midwest at 70.8% and lowest in the West at 60.4%
• White Americans account for 73.3% of homeowners, compared to 44.1% for Black Americans, 50.6% for Hispanic Americans, and 60.5% for Asian Americans
• 82.8% of homeowners are white
• Black Americans are 40% less likely to own their homes than their white counterparts
• Black and Hispanic households are twice as likely to rent compared to white households
• The Black homeownership rate has seen an uptick in recent years to 44.1% in 2024
• The United States saw 277,000 new Hispanic homeowners in 2019
• The 30-percentage-point gap between Black and white homeownership is larger than it was in 1968
• Black and Latinx individuals make up 80% of those facing foreclosure
• 59.6% of homeowning householders are married couples
• 12.9% of homeowners are single women; 10.0% are single men
• 22.5% of military veteran households rent; 77.5% own their homes
• New York had the lowest percentage of homeownership at 53.7%
• West Virginia, Maine, Delaware, and Vermont had the highest percentage of owner-occupied housing units 

Sources: REsimpli, iPropertyManagement, U.S. Census Bureau, The Zebra, Pew Research

Financial Metrics

The financial differences between homeowners and renters reveal critical insights into housing affordability and economic disparity. These statistics showcase the gaps in income, credit access, and housing costs that shape America’s housing market dynamics.

• The median household income of U.S. homeowners is $90,000 annually, compared to $40,000 for renters
• The average loan size for homebuyers in 2022 was $373,463
• The average loan-to-value (LTV) ratio for U.S. homeowners is approximately 30%
• The average down payment for a home in the U.S. is approximately 13%
• 10.0% of homebuyers used VA loans
• The median value of condos and single-family homes in the US is $259,906
• The median existing-home sales price in June 2023 was $410,200
• The average monthly rent in the U.S. is $1,384, while the median monthly mortgage payment is $1,700
• New York City, NY has the highest rent in the nation, averaging $4,300 for a one-bedroom apartment
• Homeowners have an average credit score of 754 (“excellent”), while renters average 638 (“fair”)
• The median down payment for first-time homebuyers in the U.S. is 7%, while repeat buyers put down 16% 

Sources: REsimpli, Zillow, NAR, RubyHome, Apartment Guide

Housing Affordability & Cost Burden

The proportion of income spent on housing reveals critical insights into financial stress across American households. These statistics demonstrate how wage levels and housing costs create barriers to affordable living, particularly for renters.

• 24.7 million or 53% of renters spend more than 30% of their household income on rent
• 13.0 million or 28% of renters pay more than 50% of their household income to rent their home
• In 59% of US housing markets, paying rent is more affordable than buying a home
• The median U.S. rent accounts for 29.1% of the average American household income
• 16.4% of homeowners’ income goes to housing costs
• Minimum wage earners need to work 127 hours per week to afford the average apartment
• To afford a basic two-bedroom apartment in the U.S., renters need to earn an average of $20.30 per hour
• 47% of renters say they rent because they can’t afford to buy a home 

Sources: iPropertyManagement, The Zebra, Zillow, Newswire

Property & Insurance Statistics

Insurance coverage represents a crucial aspect of protecting both homeowners’ and renters’ financial interests. These statistics illuminate the significant differences in insurance costs, coverage rates, and common claims between owners and renters while highlighting key gaps in insurance understanding and preparation.

• The average cost of homeowners insurance in the U.S. is $1,854 per year
• The average cost of renters insurance in the U.S. is $174 per year
• 85% of homeowners have homeowners insurance
• 57% of renters have renters insurance
• The average homeowner’s insurance deductible is $1,000
• 93% of homeowners insurance claims are related to property damage
• Fire and lightning claims account for 24.8% of homeowners insurance claims
• Wind and hail claims make up 39.4% of homeowners insurance claims
• The average home insurance claim payout is $12,474
• Water damage and freezing claims account for 23.5% of homeowners insurance claims
• The average renter’s insurance claim payout is $5,000
• 47% of renters mistakenly believe their landlord’s insurance covers their belongings
• 30% of homeowners do not have a home inventory

Sources: Policygenius

Market Trends & Economic Indicators

Current housing market dynamics reveal crucial shifts in both rental and ownership landscapes across America. These statistics showcase emerging trends in rental rates and market accessibility while highlighting how economic pressures shape housing choices.

• The national median rent closed out 2024 at $1,373 in December, declining by 0.6% from the prior month
• Year-over-year rent growth nationally stands at -0.6%
• Single-family rental homes have seen a 6% rise in occupancy rates in 2024
• Short-term rentals account for 15% of the total rental market in 2024
• The average homeowner stays in their home for 13 years before selling
• 52% of homeowners would need a mortgage rate below 6% to feel comfortable buying a home this year
• 63.2% in REsimpli’s survey of real estate professionals predict the residential market will be the most significantly impacted sector in the LA region due to widespread wildfires
• Over the last decade (2013–2023), rent inflation has outpaced currency inflation by 40.7%
• The rental vacancy rate in Q1 2023 was 6.4%
• The United States is short 7 million homes based on current needs
• 91 of the 100 largest U.S. cities have seen rent increases over the last year
• In 2022, 70% of rental properties were owned by individual investors and not corporations
• Homeownership in the U.S. has been on the decline since 2005
• The commercial real estate market in the United States is anticipated to reach $25.28 trillion by the end of 2024

Sources: REsimpli, The Zebra, NAR, U.S. Census Bureau 

Generational & Social Trends

The shifting attitudes and behaviors around homeownership across generations reveal evolving American housing priorities. These statistics demonstrate how age, social factors, and changing preferences influence housing decisions in today’s market.

• The median age of a first-time homebuyer is 33 years old
• Single women accounted for 18% of all home purchases in 2023, while single men accounted for 9%
• Over 40% of renters are now searching for pet-friendly apartments
• 40% of renters say affordability is their top priority when searching for housing
• Energy-efficient rentals are in higher demand, with a 20% increase in tenant interest
• The median age of U.S. homeowners is 56, while the median age of renters is 39
• Over 70% of U.S. homeowners are 45 or older
• 35.1% of people under 35 years old are homeowners, up 1.5% YoY
• 15.1% of people under the age of 25 years are homeowners, up 5.8% YoY
• Homeowners under 30 years old and younger live in 3.9% of owner-occupied housing units
• Homeownership rates are highest among 65- to 74-year-olds, with 78.1% owning homes
• The homeownership rate for Baby Boomers is 78%, while for Millennials, it is 43%
• Millennials account for 59% of first-time buyers
• 80% of millennials would like to eventually own a home
• 64% of millennials who own homes regret their purchase
• 79% of Americans believe that home ownership is an indicator of attaining the American dream
• Over 90% of homeowners say owning a home is a good investment 

Sources: REsimpli, RubyHome, iPropertyManagement, The Zebra, Bankrate

Housing Challenges & Vulnerabilities

The widening gap between homeowners and renters represents one of today’s most pressing housing challenges. These statistics reveal the financial pressures and vulnerabilities that shape housing security in modern America.

• 32% of renters moved due to financial reasons in 2023
• Renters now spend an average of 30% of their income on housing costs
• 11% of renter households were behind on their rental payments in 2023’s third financial quarter
• 40 million renters are currently at risk of eviction
• 43% of renters and 5% of homeowners are in danger of losing their homes
• In 2022, 42 million households were considered “housing cost-burdened”
• Renters are 178.7% more likely than homeowners to be behind on housing payments
• In 2022, 10.2 million people in 5.2 million households had federal rental assistance
• 81% of economists disagree that rent control policies have had a positive impact
• 48,248 (0.11%) of rental homes are rent-controlled
• Less than one-third (28%) of tenant applicants have a criminal record
• The median household wealth among homeowners is 3,709% higher than it is among renters
• Excluding home equity, household wealth among homeowners is 606% higher than it is among renters

Sources: REsimpli, iPropertyManagement, The Zebra, IGM Chicago Forum, HUD

Conclusion

The data reveals a stark economic divide between homeowners and renters, with profound disparities in wealth, security, and opportunities affecting renters, minorities, and younger Americans. These gaps signal a deepening housing crisis. Creating a more equitable housing landscape will require bold systemic changes in the years ahead.