Only 1 In 4 Renters Think They Are Likely To Own A Home

Dated: 09/10/2019

Views: 78

Only 1 in 4 Renters Think They’re Likely to Own a Home


Freddie Mac survey: 4 out of 5 renters (82%) think it’s cheaper than owning, but 44% also say they’ve moved in the past two years because their rent was too high.

NEW YORK – A new Freddie Mac survey finds that only 24% of renters polled said it was “extremely likely” that they would ever own a home, down 11 percentage points from four years ago.

The survey also found that 82% of renters said renting was more affordable than buying, up 15 percentage points from February 2018.

Meanwhile, rising rents are creating hardships: 44% of renters who moved within the last two years said that they did so because they could no longer afford their rent.

“The notion that there’s a housing affordability crisis is not new,” says incoming Freddie Mac CEO David Brickman. “But this is really bringing it closer to home in terms of what people are doing about it.”

According to the survey, saving for a downpayment and closing costs were the two biggest obstacles preventing renters from buying – a crunch felt by 80% of millennials and Gen Xers and 71% of baby boomers who rent.

In addition, 51% of renters between the ages of 23 and 29 said they made different housing choices than they otherwise would have because of student loans; and a significant number of homeowners and renters said child-care costs were a main factor in their housing decisions.


Source: Wall Street Journal (06/27/19) Parker, Will; Kusisto, Laura

© Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

Blog author image

Denny Lee

Denny Lee is the owner of The Yellow Door Team. His absolute dedication to customer satisfaction has propelled his team to #1 in a brokerage with over 400 active agents for the past several years runn....

Latest Blog Posts

Only 1 In 4 Renters Think They Are Likely To Own A Home

Only 1 in 4 Renters Think They’re Likely to Own a HomeFreddie Mac survey: 4 out of 5 renters (82%) think it’s cheaper than owning, but 44% also say they’ve moved in the past two years because

Read More

Sometimes It Takes Time

Sometimes it Takes Time!Top 3 Things to Remember When Buying Your Dream Home1. You Will Likely Have to Compromise Some...But How Much?Many of our clients are coming in from out of town for work or

Read More

Why You Should Consider An Investment Property As Your Your First Real Estate Purchase

Why You Should Consider an Investment Property as Your Your First Real Estate Purchase Not ready to buy a home for yourself but want to take advantage of great market conditions? Consider

Read More

Thank You For Your Support

#1 in Sales at Douglas Realty AGAIN Because of YOU! :)How did we beat out OVER 400 Real Estate agents in a successful brokerage that did over 500 Million in sales, and earn the prestigious title of

Read More