More renters are qualified to buy a home

Many factors have increased the number of renter households qualified to purchase a home in 2010 versus 2005, according to the American Community Survey conducted by the U.S. Census Bureau.

• Incomes have increased
• Population has grown
• Prices have fallen
• Mortgage rates are lower

For example, 25 percent of renter households earned more than $50,000 in 2005. In 2009, the share had increased to 28 percent of renter households.

Population has also grown. In 2005 there were approximately 36.8 million renter households compared to 38.8 million renter households in 2009, the American Community Survey revealed.