Shared hallways and easily accessible rental properties mean tenants' details are easier to steal, according to credit reference agency Experian.
This group also tend to use mobile and online services more often, offering more opportunities for thieves to find personal details.
Another recent survey found that ID fraud accounted for 41% of all fraud.
In March, fraud prevention service Cifas said that digitally-savvy young adults were increasingly becoming targets, at fraud hotspots in London, Leicester, Birmingham, Manchester, Leeds and Glasgow.
Now, Experian has said that identity theft has become the most prevalent form of fraud for the first time since the recession.
The victims in one in six of these cases were young tenants, it said.
Wealthy couples were next on the list of victims, with this group particularly targeted in card and loan fraud.
"[The findings] highlight the need for people to think about how they protect their personal information both on and off line," said Nick Mothershaw, of Experian.
High Street banks and the police are running a campaign to make customers more aware of the threat of fraud.
Renters face the greatest risk from identity thieves owing to their domestic set-up and lifestyle.