- An Urban Institute study analyzed the credit reports of renters and homeowners concluded that low credit scores keep renters from home ownership.
- Most people need a credit score of 650 to qualify for a mortgage; only 48% of all renters (60.2M) have a score of 650 or higher.
- Personal debt also keeps renters from home ownership. Of the 96 million renters who’ve never had a mortgage, 42% have consumer debt in collections.
