Renters of all ages are less mobile now, but young adults in particularly have been preferring to stay put.
Zillow reports that the share of renters age 24 to 34 who moved in the previous year declined from 40 percent in 2000 to 30 percent in 2016.
The rise of single-family home rentals is one of the reasons for this. Single-family home rentals is one of the market’s fastest-growing segments, and among young adults, single-family home renters tend to move less often than apartment renters.
Deteriorating rent affordability is one possible explanation. In less affordable markets, local renters tend to move less often, particularly when rents are rising quickly.
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