Survey: About One-Third of Moving Homeowners Now In Apartments

Mon, 2012-04-16

Apartment Vacancies have fallen to their lowest point in a decade, with Reis reporting that the rate fell to 5.2 percent in Q4 2011 from 5.6 percent in the previous quarter.

According to a recent Apartments.com national survey of its website visitors about their moving plans, 33.6 percent of respondents said they were previously homeowners who were now looking to rent.

More than 26 percent said they believe renting is the more affordable option, while about 21 percent say they prefer the flexibility renting offers them in terms of where they can live. More than 20 percent said they were renting because they had to relocate for employment, while 10.5 percent said they could not keep up with homeownership expenses.

Other reasons for moving prevalent among renters include looking for larger apartments, seeking a less expensive apartment, wanting to live in a desirable neighborhood, and a change in marital status.

Click here to view the original article posted on the National Apartment Association website. Source: NAA’s Industry Insider and Marketwatch.com



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