GLENDALE, AZ — A new study shows more people are renting in the suburbs and Glendale is at the front of the trend in the Phoenix area.
The report from Point2Homes looked at suburbs in the 20 biggest U.S. cities and found 203 where renters now outnumber homeowners. That hasn’t happened yet in any Phoenix suburbs, but Glendale is getting close with renter households now making up 42.4% of all households.
According to the report, Sun Lakes recorded the fastest renter growth, with a 41.3% increase in renter households in five years.
Experts say rising home prices and a desire for flexibility are pushing more people to rent instead of buy, even outside big cities.
You can check out the full report at point2homes.com.
