The new renter is getting older

Renting a place to live isn't just for the young anymore. According to a 2026 analysis by Realtor.com, the typical family renter household is headed by a 42-year-old. The data also shows today's long-term renter is 55 years old, with a median household income of $48,500.

Experts say for some households, staying in the same rental property is more about affordability and not just preference. However, the dream of homeownership hasn't disappeared. The same research shows around 65% of renters would like to own a home if they had the financial means.

WATCH: The new renter is getting older

Home warranty specialists "Cinch Home Services" released a list this month of the states where it takes the longest to save for a home down payment. Florida ranks number 5 behind Hawaii, California, Montana and New York. In Florida, the study found it takes about 3.5 years to save up for a 15% down payment of $56,320 for a home valued around the median price of $375,470. Based on these figures, a potential homeowner in Florida would need to save about $1,341 a month.

The analysis accounted for household earnings, factoring in the state's median income and the earnings that remain after paying rent, groceries, health care costs and transportation.

Across the country, the estimated time to save for a home down payment is around two years and nine months, based on monthly savings of approximately $1,692.

Cinch Services asked for a credit. There is nothing that ties directly to this study, but here is their website that was provided in the press release.