SECC President’s Blog: Renters Represent Opportunity for Utility Customer Engagement

Among the many demographic shifts shaping the U.S. today, the rise in renting and decline in homeownership seems largely to have fallen under the radar. According to a 2016 Pew report, more Americans rent now than any time in the past 50 years.

While there are many reasons leading to an increase in renting, the Pew data shows that it isn’t a passing fad; renting has steadily trended upwards for 20 years now. Over the past decade, the total number of U.S. households has grown by nearly eight million, yet the number of households headed by owners has stagnated. Those headed by renters have increased 10 percent.

Further, due to the impact of millennials, this trend seems unlikely to slow any time soon. Millennials currently dominate the ranks of renters, yet their pervasiveness among renters reflects more than their current life stage.

SECC's President & CEO Patty Durand shares smart grid industry insights on her blog, Smart Consumer Connections > > >