Renters outpace homeowners in these Tampa Bay suburbs
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The Tampa Bay suburbs with the most renter households in 2023 were University, Egypt Lake-Leto and Temple Terrace, according to a recent analysis of Census Bureau data.
Why it matters: Housing affordability and changing demographics are transforming suburban life.
By the numbers: Renters now outnumber homeowners in 203 suburbs of the 20 most populous U.S. metros, per the analysis by rental listing site Point2Homes.
- University in Hillsborough County had the fifth-highest rental share in the nation at 80%.
The intrigue: In the Tampa Bay area, suburbs are gaining renters at a faster rate than the region's cities.
- There are 202,374 renter households in Tampa Bay's suburbs, compared to 164,748 in its cities.
The big picture: Renting in the suburbs can offer more space for young families and maintenance-free living for empty nesters.
- Amenity-packed rental home communities have moved into the Sunbelt and other regions over the past few years as home prices soared.
- On average, renting is cheaper than buying a home in all 50 of the largest U.S. metros, Bankrate research shows.
The bottom line: "Suburban living is no longer reserved for those with a mortgage," Point2Homes' Andra Hopulele wrote in the report.