A report from Point2Homes reveals the growing trend of suburban renters in Boston, with a 7% increase in suburban rental households between 2018 and 2023. As urban housing affordability declines, suburbs like Brookline and Watertown are transitioning to majority renter populations. Meanwhile, other cities like Dallas and Tampa are also seeing suburb rental growth surpassing urban areas. Factors such as remote work and costly homeownership are driving this trend, indicative of a significant shift in housing preferences among Americans.
The rise of the renter suburb is not a blip. It's a fundamental shift in how Americans live and think about housing.
Between 2018 and 2023, the number of suburban rental households near Boston increased by 7%, adding approximately 25,500 renters.
Brookline and Watertown have shifted from having a majority of homeowners to a majority of renters, with Brookline at 54% and Watertown at 51%.
Several Boston suburbs added over 1,000 renter households, including Quincy with an increase of 3,500, and Lawrence with 3,317.
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