Boston, the second tightest U.S. rental market, plans to double affordable housing fees for developers of high-end apartments in some neighborhoods, according to the Boston Globe.
Photo: Steve Kelly

Among the data in the 44-page annual Harvard Joint Center for Housing Studies report https://tinyurl.com/owxpqva released Dec. 9, is details of the ever increasing levels of rented housing in the U.S.

Some key stats:
Renter households increased from 34 million in 2005 to nearly 43 million in 2015. The increase of nearly 9 million renter households between 2005 and 2015 exceeds growth during any 10 year period in recent history.

The share of all U.S. households that rent rose from 31 percent in 2005 to 37% in 2015, its highest level since the mid-1960s.

Eighteen percent of the growth in renters in 2005-2015 was households with incomes of $100,000 or higher (1.6 million); 38% was from those with incomes of $25,000-$99,999 (3.4 million); and 45% had incomes of less than $25,000 (4 million).

Renting grew fastest among the highest incomes: the number of renters in the top income decile grew at a rate of fully 61 percent in 2005-2015. Note: A "decile" ranks data into 10 subgroups, a common practice in academic and statistical studies.

The largest share of the growth in renters in 2005-2015 (55%) was among households age 50 and older (Baby-boomers and older); 34% was among households age 30-49 (Gen-X), and 11% was among households under age 30 (Millennials).

Single-family homes make up nearly two-fifths of the rental stock, and are a significant source of rental housing across central cities, suburbs and nonmetro areas.

Growth in the adult population alone will be enough to drive the addition of more than 4.4 million renter households by 2025.