What are renters really like? Results from a national survey

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Abstract
If efforts to expand homeownership are to succeed, policy makers will require improved information on the characteristics of renters, especially their attitudes toward homeownership. This article examines the feasibility of identifying distinctive renter subgroups based on subjective as well as objective characteristics. To do this, a combination of factor analysis and cluster analysis was applied to a 1991 national survey of almost 2,000 renters; discriminant analysis was used to compare the renter subgroups. Six clusters emerged from the analysis: (1) families moving up the housing ladder (17 percent of the total), (2) lifestyle renters (21 percent), (3) college graduates starting out (26 percent), (4) black renters (15 percent), (5) elderly life cycle renters (10 percent), and (6) struggling blue‐collar workers (11 percent). Clusters 1, 4, and 6 may be suitable targets for homeownership assistance. Programs that may be appropriate for each are discussed.

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