At Counsellors Title Agency, we stay on top of housing market trends to better serve our clients. One of the most significant shifts we’re tracking is the evolving balance between renters and homeowners across the United States—and what it means for real estate professionals and prospective buyers.
The Reality of Renting
Approximately one in three American households currently rents their home, a ratio that has remained relatively consistent over the past sixty years. However, recent economic pressures are nudging this number upward.
The dramatic rise in mortgage rates—from 2.7% in 2020 to nearly 7% today—combined with steadily climbing home prices, has made homeownership increasingly challenging. Currently, it takes an annual income of $121,400 to afford a typical home, representing 43% more than the average American salary.
These affordability barriers are reshaping the housing landscape and influencing market dynamics across different regions.
Washington, D.C. Leads the Nation
Washington, D.C. tops the list with a renter population nearly double the national average. Despite residents earning the highest average hourly wages in the country at $51.30 in real terms, the number of renters far exceeds homeowners.
Several factors contribute to this trend:
- Severely limited housing supply creating intense market competition
- High home prices that put ownership out of reach for many residents
- An influx of out-of-state residents, particularly from New York City and Boston, further straining the rental market
New York Takes Second Place
New York ranks second nationally, with 45.7% of residents renting. In New York City specifically, the average monthly rent for a one-bedroom apartment has reached $4,100 in 2025—a 22% increase over just five years.
Other High-Renter States
The top five states by share of renters also includes:
- California: 44.2% renters
- Nevada: 39.9% renters
- North Dakota: 38.8% renters
These states face similar challenges of high housing costs, limited inventory, or unique economic factors that make renting more practical or necessary for residents.
West Virginia: The Most Homeowner-Friendly State
On the opposite end of the spectrum, some states maintain significantly higher homeownership rates, largely driven by affordability.
West Virginia has the lowest share of renters nationwide at just 24.5%. The state’s robust homeownership rate is directly tied to housing affordability, with the median home sale price standing at $225,506 in Q2 2025—substantially below the national median of $410,800.
This price difference of nearly $185,000 makes homeownership accessible to a much broader segment of the population, creating opportunities for first-time buyers and families seeking affordable housing options.
What These Trends Mean for Real Estate Professionals
Understanding regional variations in renting versus homeownership is essential for anyone working in real estate. These patterns influence:
- Title transaction volume and types: High-renter areas may see more investor purchases and property management transfers
- Market opportunities: Affordable homeownership markets present opportunities for buyers priced out of coastal markets
- Client expectations: Buyers in competitive markets need realistic guidance on affordability and timing
- Investment strategies: Rental-heavy markets may attract more real estate investors seeking income properties
How Counsellors Title Agency Can Help
Whether your clients are first-time homebuyers navigating an expensive market, investors acquiring rental properties, or sellers in competitive regions, Counsellors Title Agency provides the expertise and personalized service needed for smooth transactions.
Our team understands the unique challenges presented by different markets across the country. We’re committed to delivering efficient, accurate title services that help make homeownership possible—even in today’s challenging environment.
From title searches and insurance to closing services, we handle every detail with professionalism and care, allowing you to focus on serving your clients’ best interests.
Ready to work with a title agency that understands today’s complex housing market? Contact Counsellors Title Agency today to learn how we can support your next transaction.
Data source: U.S. Census Bureau