Rentals Winning Out

In the face of the financial crisis, attitudes over renting versus buying a home are changing, according to numerous public opinion polls, including  a survey of  more than 2,700 website visitors by Apartments.com.

moving day

“We are seeing vacancy rates drop, which means the rental market is improving,” said Chris Brown,  Apartments.com  vice president of product management. “Renting is becoming more popular, somewhat due to economic factors, but also because people want to live in more desirable areas with easier access to amenities.

“Relocating ranks as the third most stressful life event. It’s important for renters to take steps to reduce frustration and avoid common pitfalls.”

More than 60% of renters said they currently live with a roommate, but more than half are not planning on living with their current roommate when they move, citing a variety of reasons, including personality differences.

moving day

Increased interest in renting may be attributed to lower rents, a troubled economy, damaged credit reports, rising foreclosures and declining home prices. October 1st shares top billing with May 1st as the busiest moving day of the year.