Top 10 Cities with the Highest Rent Populations

Updated: Mar 7, 2021

In real estate investing, data interpreting is a challenge because the market is fluid and shifts often. One of the key principles to understanding real estate statistics and interpretations is to always consider trends over a significant period of time, to avoid making knee jerk reactions in temporary market shifts.


Reviewing information over the last 7-10 years is the golden rule of keeping an objective eye on market trends, and the safest approach to making your own assumptions.


Keep in mind that when you’re evaluating a specific population, it’s important to anticipate if the growth will continue and other factors that can contribute, such as the number of major employers, unemployment rates, and more.


Generally, however, a market that has a large renter share over homeowner share will likely remain stable for a multifamily investment if the other factors of the economy are evenly distributed. In evaluating the last decade, specifically 2010-2018 (2019 data is not yet completely available), here are the top 10 cities with the most consistent growth in renter population:


#10 Birmingham, AL

Renter Percentage of Population: 52.7%


Total Population as of 2018: 209,880


Renter Population Increase from 2010 – 2018: 12.2%


#9 Memphis, TN

Renter Percentage of Population: 52.7%


Total Population as of 2018: 650,618


Renter Population Increase from 2010 – 2018: 8.9%


#8 Irvine, CA

Renter Percentage of Population: 53.0%


Total Population as of 2018: 282,572


Renter Population Increase from 2010 – 2018: 14.3%


#7 Pompano Beach, FL

Renter Percentage of Population: 53.2%


Total Population as of 2018: 111,954


Renter Population Increase from 2010 – 2018: 17.9%


#6 Stockton, CA

Renter Percentage of Population: 54.3%


Total Population as of 2018: 311,17


Renter Population Increase from 2010 – 2018: 12.9%


#5 Lewisville, TX

Renter Percentage of Population: 54.6%


Total Population as of 2018: 106,586


Renter Population Increase from 2010 – 2018: 11.9%


#4 Manchester, NH

Renter Percentage of Population: 55.3%


Total Population as of 2018: 112,525


Renter Population Increase from 2010 – 2018: 12.2%


#3 Killeen, TX