Homeownership in Worcester is only 40%

I was reading the Worcester Chamber of Commerce summary of their condo study and a couple statistics stood out to me.

Worcester has the 14th lowest homeownership rate in the country for mid sized cities.

About 60% of the city's residents rent their housing

Those that rent spend more on housing costs each month than homeowners, regardless of income level.

What does that mean for buyers and owners of multifamily housing?

Essentially prices are too high for people to buy.

You can invest in Worcester and know there will always be tenants.