Homeownership is slipping out of reach for a growing share of the world’s population, with a new global study ranking the nations where renting for life, rather than owning, is becoming the norm – Denmark ranks second.
The Forever Renter Global Index, conducted by leading furniture retailer Luxo Living, analysed housing data across 39 OECD member countries to identify where long-term renting is most entrenched, and where homeownership is slipping furthest out of reach. The data covers 2017 to 2024, with the most recent available year selected for each metric covered.
The term ‘forever renter’ has emerged to describe a generation locked out of homeownership not by choice, but by affordability pressures and structural constraints reshaping housing markets worldwide.
The Forever Renter Global Index quantifies exactly where long-term renting has become most entrenched, combining renter share, homeownership rates, rent burden, housing cost overburden, overcrowding, living space and price-to-income data into a single composite score.
Denmark earns a ‘forever renter’ score of 67.2 out of 100, influenced by a high renter share and the steepest overburden rates in the study. Columbia (71.4, first place), Chile (64.2, third place), Luxembourg and Switzerland (tied fourth at 59.7) are the top five, showing that entrenched renting is not confined to any one region, economic tier, or housing system.
The top 20 ‘forever renter’ nations:
| Rank | Country | Forever Renter Score /100 | Renter Share % | Homeownership % | Rent Burden % | Overburden Rate % | Overcrowding % | Rooms/Person (renters) | Price-to-Income Index (2015=100) |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Colombia | 71.4 | 40.7 | 35.9 | 20.6 | 18.7 | 30.4 | 1.3 | 89.7 |
| 2 | Denmark | 67.2 | 47.5 | 52.2 | 27.8 | 22.7 | 8.3 | 2.1 | 105.2 |
| 3 | Chile | 64.2 | 26.5 | 57.0 | 27.3 | 17.4 | N/A | N/A | 120.8 |
| 4= | Luxembourg | 59.7 | 36.0 | 62.3 | 25.5 | 20.1 | 7.0 | 2.0 | 120.5 |
| 4= | Switzerland | 59.7 | 61.2 | 38.2 | 24.6 | 7.2 | 5.6 | 2.0 | 125.8 |
| 6 | Canada | 54.6 | 31.3 | 68.7 | 24.5 | 10.1 | N/A | 1.9 | 137.0 |
| 7 | Sweden | 54.3 | 38.9 | 58.2 | 28.3 | 8.7 | 15.1 | 1.7 | 95.9 |
| 8 | Greece | 54.0 | 24.6 | 68.2 | 24.3 | 13.1 | 16.9 | 1.5 | 115.9 |
| 9 | Iceland | 53.7 | 19.2 | 78.4 | 27.6 | 18.3 | 8.7 | 1.6 | N/A |
| 10 | New Zealand | 52.9 | 41.4 | 57.5 | 25.9 | N/A | 0.6 | N/A | 119.6 |
| 11 | Finland | 51.7 | 38.1 | 61.0 | 30.6 | 9.5 | 11.9 | 1.7 | 81.0 |
| 12 | Germany | 51.5 | 55.4 | 41.0 | 18.4 | 4.8 | 9.5 | 1.8 | 109.1 |
| 13 | Austria | 49.4 | 43.7 | 47.9 | 19.4 | 4.9 | 10.7 | 1.6 | 115.9 |
| 14 | Portugal | 49.1 | 18.5 | 72.1 | 20.5 | 15.8 | 6.3 | 1.9 | 148.8 |
| 15 | Australia | 48.1 | 31.7 | 62.7 | 23.1 | 6.5 | N/A | N/A | 121.8 |
| 16 | United States | 48.0 | 33.1 | 65.3 | 24.4 | 12.0 | 4.8 | 2.4 | 130.7 |
| 17 | Netherlands | 45.5 | 41.2 | 57.9 | 25.5 | 4.4 | 4.3 | 2.4 | 130.4 |
| 18 | Norway | 42.9 | 25.8 | 72.3 | 28.5 | 8.9 | 5.7 | 2.1 | 108.9 |
| 19 | France | 42.1 | 39.2 | 58.6 | 21.8 | 5.6 | 7.6 | 1.9 | 93.6 |
| 20 | Mexico | 41.7 | 15.0 | 69.6 | 15.1 | 3.8 | 30.0 | 1.4 | N/A |
Luxo Living’s Forever Renter Global Index, based on OECD Affordable Housing Database indicators (most recent available year per metric, 2017–2024). Renter Share % – Share of households that rent (private + subsidised), Homeownership % – Share of households that own their home outright or with a mortgage, Renter burden % – Median housing costs (rent, utilities, taxes) as a % of disposable income for renter households, Overburden rate % – Share of households spending more than 40% of income on housing costs, Overcrowding % – Share of households living in overcrowded conditions (fewer rooms than household size requires), Room/person (renters) – Average number of rooms per person in renter households, PTI index (2015=100) – House price-to-income ratio, indexed to 2015 = 100; higher = less affordable than in 2015.
Denmark is in second place, with a score of 67.2. Renter share sits at 47.5% against a 52.2% homeownership rate, meaning close to half the population rents despite a relatively strong ownership base. Denmark also carries the highest rent burden of the top five nations, at 27.8% of income, and a housing cost overburden rate of 22.7%, the steepest of any country studied. This points to a market where renting is more common and increasingly expensive than one shaped by a shortage of owner-occupied housing.
Colombian renters face a 20.6% rent burden – the median housing costs (rent, utilities, taxes) as a % of disposable income for renter households – and outnumber homeowners, revealing a 40.7% renter share against just 35.9% homeownership. Overcrowding hits 30.4%, the highest in the top 20 and second-highest of all 39 countries analysed, trailing behind Latvia (31.6%).
Chile takes third with a score of 64.2, driven primarily by severe cost overburden and rent burden, compounded by house prices rising well ahead of incomes. Renter share for this nation sits comparatively modest at 26.5%, while homeownership sits at 57%, although rent burden runs high at 27.3%. Chile also records a price-to-income index of 120.8, meaning house prices have climbed roughly 21% faster than incomes since 2015. It’s worth noting that Chile’s overall score is shaped by five of the seven metrics measured, spanning tenure and affordability indicators, so its ranking reflects that combination only.
Luxembourg is in fourth place, scoring 59.7 overall. Renter share there sits at 36% against a 62.3 homeownership rate, while overcrowding is low at just 7%, indicating renters there are not short on space. What pushes Luxembourg into the top five is cost: a housing cost overburden rate of 20.1% and a price-to-income index of 120.5, on par with Chile, showing that even relatively comfortable renters are being squeezed by house prices rising well ahead of incomes.
Switzerland also ties for fourth with 59.7, with the highest renter share among the 39 countries at 61.2% against a homeownership rate of 38.2%. Unlike the other countries in the top five, Switzerland’s overburden rate (7.2%) and overcrowding rate (5.6%) are both low. But its price-to-income index (125.8) is the fastest-rising of the top five.
The renting shift is reshaping how people live today
“Forever renters’ are no longer a niche group, they’re shaping how an entire generation lives, decorates and invests in their homes. Just because homeownership feels out of reach doesn’t mean people stop wanting a home that feels considered and lasting. As renting becomes the default rather than a stepping stone, furniture suppliers like us have had to evolve, shifting toward modular, multi-use pieces built for a generation that’s always on the move,” says Winston Tu, CEO of LuxoLiving.com.au.
