In 2023, single-family homes and apartments in buildings with five or more units were the most popular structure for renters in the United States. Approximately *** million people lived in a rental home, with about ** million occupying an apartment in a multifamily building. That corresponded to about ** million households in total and ** million households living in an apartment in a large residential building.

Single-family houses and apartments in large residential buildings with five or more units were the most popular structure type for American renters in 2023. About 39 percent of the population who lived in rental accommodation occupied an apartment in a multifamily building. The share of households renting such apartments was even higher, at about 47 percent. In 2023, the average asking rent for an unfurnished apartment in the U.S. declined slightly, after surging for three years in a row.