More Homeowners See Benefits to Renting

Sule Aygoren Carranza is managing editor of Real Estate Forum and editor of Multi Housing forum, from which this article is excerpted.

Arlington, VA—In what may signal a shift in sentiment, more than half of a group of homeowners nationwide believe there are benefits to renting an apartment versus owning a home. In a survey conducted by Harris Interactive and commissioned by the National Apartment Association, 65% of 2,118 homeowners polled see renting more favorably than they did before.

Renters do not face the risks of foreclosure, an unpredictable real estate market or fluctuating interest rates, as many as 25% of respondents say. More respondents (62%) were concerned about a lack of privacy with renting than the fact that renters cannot build equity in their homes (54%).