Data: Redfin analysis of 2023 U.S. Census data; Chart: Axios Visuals
Nearly 17%of San Diego renters have lived in their homes for at least 10 years, up from about 11% a decade ago, according to a Redfin analysis of census data.
The big picture: While most U.S. renters move homes within five years, roughly 34% lived in the same rental for longer than that in 2023. That's up from around 28% in 2013.
Renters moved less often than a decade ago in all of the 50 most populous U.S. metro areas, the analysis shows.
Between the lines: Many are staying put in their rentals because of high homeownership costs or they prefer the amenities and flexibility.
Renters make up about half of households in San Diego County, and 30% of them spend more than half their income on housing.
The bottom line: Younger people are more likely to relocate on a regular basis than older people.