Renters Lean Toward Staying Put, Delaying Homeownership

A recent survey from Freddie Mac found that a larger share of renters feel more optimistic about their financial situations and aren’t in a rush to move, even if rent increases.

The number of people who expect to move during the next two years dropped from 38 percent to 33 percent since September, and 55 percent of respondents said that they like where they live and don’t intend to move if rent becomes more expensive.

Also, since the September survey, more respondents said that renting is a good choice for them, and more said they plan to rent their next home. Fewer people said that they expect to own a home sometime soon. Only 15 percent said that they were working toward homeownership.

The Freddie Mac survey also indicates a preference for living in urban areas even if it means moving into a smaller home. Seventy-five percent of the renters surveyed say they would consider downsizing in order to live in an urban area, with half of those saying they are either very or fairly willing to downsize.

Read more