1. Memphis, TN-MS-AR
When considering the relationship between the percentage of single-family home renters and median monthly rent, there is no pronounced correlation. This suggests that other, more significant variables are likely influencing the availability of single-family rentals, such as population density, building codes, and zoning regulations, among other factors.
The data used in this analysis is from the U.S. Census Bureau’s 2019 American Community Survey 1-Year Estimates. Single-family rentals were defined as “renter-occupied housing units” with a single detached or attached unit in the structure. To find the locations with the most single-family rentals, researchers calculated the proportion of renter households in structures with one unit. To improve relevance, only metropolitan areas with at least 100,000 residents were included. Additionally, metros were grouped into cohorts based on population size: small (100,000–349,999), midsize (350,000–999,999), and large (1,000,000 or more).