Renting is now a lifestyle choice, not a fallback, as cultural attitudes shift
The American dream of homeownership has lost some of its luster, with a growing number of renters choosing to stay put and embrace apartment living as a long-term lifestyle, according to the Knightvest Capital’s latest Multifamily Renter Sentiment Report.
“Renting is no longer a temporary compromise but a deliberate, lifestyle decision,” David Moore, Knightvest founder and CEO, said.
“These findings underscore our renewed optimism for the multifamily industry as renters report confidence in both their personal financial situations and in their decision to rent going into 2026.”
The survey was conducted in September 2025 among more than 2,000 US apartment renters. It revealed that 50% of respondents are actively choosing to rent, and nearly half (47%) now see renting as a five-year or longer commitment—up from 42% last year.
Homeownership loses its status appeal
The cultural cachet of owning a home is fading. More than half (52%) of renters said they no longer view homeownership as a status symbol, a jump from 45% last year.
About half of those surveyed expressed little to no interest in buying a home within the next five years. Sixty-four percent of renters who made a conscious choice to rent had previously owned a home, suggesting that affordability is not the only factor at play.
“People are making more deliberate housing decisions and staying longer in communities that deliver quality and consistency,” Daniel Ebner, president of Knightvest Residential, said.
“Our goal is to meet that higher bar and continue earning the trust of residents who choose to make our communities home for the long term.”
Similarly, a new survey by Clever Offers revealed that more than half of Americans believe their dream home will remain just a dream.
While 66% said they’d feel more confident living in their ideal property, 53% admitted they don’t expect to ever achieve it. Only 28% said they could afford their dream home today, and fewer than half think they’ll ever get there.
Moreover, 45% report they’re now less inclined to make significant purchases, such as buying a home or car, due to the federal government shutdown, according to Redfin.
Mortgage rate sensitivity drops, generational divides emerge
The report also highlighted a sharp drop in mortgage rate sensitivity. Only 53% of renters said they would be more likely to buy if rates fell, down 17 points over two years.
Affordability remains a top concern—61% cited the high cost of homeownership as their main reason for renting, with 56% pointing to lower maintenance and 34% to desirable locations. Gen Z renters focused on cost, while Baby Boomers prioritized convenience.
Meanwhile, financial confidence among renters remains strong, with 95% expecting their situation to improve or stay the same in 2026. Technology, often touted as a differentiator, ranked lower in importance, with only 40% valuing smart features like keyless entry or smart thermostats.
Mortgage applications increased 0.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 7, 2025.https://t.co/LkJuaxIsA0
— Mortgage Professional America Magazine (@MPAMagazineUS) November 12, 2025
Industry adapts to a new renter mindset
Multifamily operators must rethink their approach as renters become more selective and long-term focused.
“The winners in this environment will be firms that recognize apartments are no longer viewed as temporary housing, but rather a lifestyle category that demands long-term thinking on amenities, service, and community experience,” Moore said.
As the multifamily sector adapts, renters are here to stay, and the industry must evolve to meet their expectations.
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