Apartment Renter Demographics

Goals

To understand the demographics of apartment renters today.

Early Findings

National Demographics

  • There are approximately 18,837,547 apartment households in the United States.
  • Of those, 25% of the householders are under 30, 29% are between 30-44, 27% are between 45-64, and 19% are over 65. The median age of apartment householders is 42 and the mean age is 46.
  • Around 22% are occupied by single males, 26% by single females, 11% by married couples, 9% by married couples with children, 13% by single parents, and 18% in other arrangements which may include one or more roommates sharing an apartment.
  • About 22% of apartment households have one or more children.
  • The mean household income of apartment renters is $52,591 and the median income is $36,201 with 29% making less than $20,000, 19% making between $20,000-$34,999, 14% making between $35,000-$49,999, 16% making between $50,000-$74,999, and 21% making over $75,000.

Indiana/Indianapolis Area

  • There are approximately 528,900 apartment households in the state of Indiana with a little over 212,000 residing in the Indianapolis-Carmel-Anderson area.
  • In Indianapolis, there are approximately 168,780 renter occupied units. This includes single family as well as multifamily. The median rent is $670.
  • In 2018, there were about 1,130 building permits issued in Indianapolis for multi-family housing units for 3 or more families.

Proposed next steps:

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