Renters Outnumber Homeowners in Some Southern California Cities #homeownership #realestate #investment

Source:  The Orange County Register

The dream of homeownership is slipping away for residents in many Southland cities as renters increasingly outnumber those who own homes.

That's the takeaway from figures released this week by the nationwide apartment search website RENT Cafe.  The latest communities to achieve this distinction are Pasadena, Lancaster, San Bernardino, Anaheim and Santa Ana.

In 2006, 49.9 percent of Pasadena's population were renters.  But by 2016, that had risen to 58.3 percent, an increase of nearly 17 percent.

Lancaster has experienced a similar trend with an even more dramatic increase.  Its share of renters rose from 36.2 percent in 2006 to 51 percent in 2016, an increase of nearly 41 percent.

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