Real estate prices are rising more rapidly than inflation, and people are buying homes with fewer and fewer renters.
This trend has led to a “buy-to-let” boom, in which people are increasingly buying homes for as little as $250,000.
But while the average home price has been increasing, so has the number of renters.
Renters account for a whopping 40 percent of all home buyers in the US.
The median renter household income is $53,500, according to a survey by RealTek.
This puts them in the same position as the median wage earner in the United States.
RealTek also found that rental rates have dropped in recent years, and that the number is falling even faster for those looking to rent.
Rents for homes with a one-bedroom are at their lowest since 2011, the company found.
And while the number and number of rentals has been trending downward, this trend is starting to reverse, the firm found.
Renters are paying a premium for their homes because of the low cost of renting, according, RealTec.
And since it costs less to rent a one bedroom home, it is less expensive for those who need a bigger home.