Monday, December 02, 2019

Renter Mobility Rate Slips below 20%

The nation's mobility rate hit an all-time low of 9.8 percent in 2018–19, primarily because fewer renters are moving. The mobility rate of renters fell to 19.7 percent, a record low and the first time the figure has been below 20 percent. The mobility rate of renters exceeded 30 percent before 2006. Because renters account for two-thirds of movers, the falling mobility rate of renters is the biggest factor behind the nation's record low overall mobility rate. Here is the trend in mobility by housing tenure...

Percentage of renters who moved
2018–19: 19.7%
2010–11: 26.1%
2000–01: 30.5%
1990–01: 33.6%

Percentage of homeowners who moved
2018–19: 4.9%
2010–11: 4.7%
2000–01: 7.4%
1990–01: 8.8%

Between 2018–19, only 20.9 million renters moved. This is the smallest number since the Census Bureau began to collect data on mobility rates by housing tenure in the 1980s. Among homeowners, 10.4 million moved in 2018–19, down from about 15 million a year prior to the Great Recession. 

Source: Census Bureau, Migration/Geographic Mobility

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