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Apartment renters aren’t moving much

September 13, 2016

Apartment renters aren’t moving much

Apartment dwellers are staying put in record numbers, a brand of loyalty that’s helping drive up rents.

The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.

A more typical 45% of renters renewed their leases annually in the mid-2000’s, a share that roughly held steady through the recession as job losses forced many to downsize or move in with relatives, says RealPage Chief Economist Greg Willett.

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Derek Hayes
Blue Vault's Services
April 14, 2016

BlueVault saves a lot of time and effort in obtaining good numbers for analysis and provides good insights to compare against my own.