Residents in the cities of Newark, New Jersey, New York, Connecticut, and Massachusetts have a high ratio of renters to buyers. People are renting due to debt, interest rates, and money.
Arizona has the most cities on the list with the highest percentage of homeowners. Out of the top 15 cities, four are in Arizona, and three are in Florida.
Newark, New Jersey, has 79.15% renters. Elizabeth and Patterson, New Jersey, take second and third places, respectively, with slightly above 75% of residents renting. New Haven, Connecticut, is fourth with 74.43%, and Hartford, Connecticut, ranks fifth with 71.35% renters over homeowners. There are plenty of for sale signs scattered about the Skyline Mobile Home Park in Torrance on August 24, 2022.
Some of these tenants have been living in their rentals for many decades. New Yorkers rank in the hundreds of thousands and land a secure first-place ranking for the city with the most tenants that moved in over 22 years ago.
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