The number of people in Britain who live in rented property has reached 10 million, one-sixth of the population.
The figure has doubled since the year 2000.
The increase has been put down to housing shortages as well as the difficulty in obtaining a mortgage during the prolonged financial crisis. The rise of buy-to-let mortgages and the reduced number of council properties have been other factors.
This is a reversal to the trend of home ownership which peaked at 69% of all households in 2001, to just below 65% now, according to property group Knight Frank.
It says 17% of the UK's households rent from the private sector, up from around 8% which prevailed through much of the 1990s.
The greatest switch to renting accommodation has taken place in major cities and in the south east of the country, although increases have occurred in all regions. In London in particular private rentals have more than doubled to 20% in the decade from 2001 to 2011.
