November 21, 2016

The Rental Experience is Satisfying and More Affordable Than Owning

The Rental Experience is Satisfying and More Affordable Than Owning

Freddie Mac's September survey of the nation's renters saw an increase in the percentage who said they are satisfied with the rental experience and a steady majority who expect to rent their next residence.

Specifically, 44% of renters said they were very satisfied, which is up from 33% in January 2016. Adding in those who are moderately satisfied increases the overall percentage of satisfied renters to 66% in the latest research. At the same time, the number of respondents who say renting is more affordable than owning fell from 69% in January to 65% in September.

The survey also shows that 55% of the respondents expect to rent their next residence while 45% expect to buy. This is unchanged from renter surveys in January 2016 and October 2015.

Of those renters who plan to move, Gen–Xers are the only cohort where a majority (58%) say they plan to buy their next home, but they are also the group most likely to worry about their household financial situation. Seventy percent of Gen–Xers said they were concerned. Financial worries were also prevalent among Millennials (68%) and Baby Boomers (62%).

For Renters, Many Still See Renting as More Affordable Than Owning
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