Renting serves as a prevalent housing choice for many Americans; however, not all renters prefer sharing their living space with others. In fact, the population of solitary renters has been steadily increasing — especially in Jacksonville.
Between 2016 and 2021, there was an addition of approximately 1 million people who chose to live alone, reaching a total of 16.7 million individuals, marking a 6.7% growth. This demographic experienced the most rapid expansion within the renting community over this five-year period, with a significant surge in 2020, according to a new report from RentCafe.
Amongst Baby Boomers and Millennials, the concept of renting a place independently enjoys significant popularity, while a notable proportion of Gen Z individuals have yet to embrace this trend. The primary reason for this difference lies in the fact that living alone comes at a higher cost; to secure a solo apartment, renters need an additional annual income of $8,600 compared to the average renter, the report said.
Solo renters in Jacksonville increased more than 19% in five years, which makes it the seventh fastest growing city for solo renters in the country. Jacksonville has about 78,500 renters living alone compared to about 65,700 five years ago.
In Jacksonville, renters make up about 16% of the city’s residents.
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