Build-to-rent (BTR) residents are willing to move for a better deal in today’s increasingly expensive housing market. This is according to John Burns Research & Consulting’s 2024 Build-to-Rent Resident Survey, which found that BTR residents prefer renting but are sensitive to prices.

Forty-three percent of BTR residents said they would move out of their current home if they found a better deal or lower rent elsewhere, the survey found. Survey respondents also expressed a willingness to move to save money for a down payment on a home purchase or to escape a high cost-of-living market. However developers and operators can entice cost-conscious residents to stay with amenities and community features, the report found.

The survey, which incorporated 7,600 responses from residents across the United States, highlights a key shift in renter preferences compared with 2023. Thirty-six percent of BTR residents said they prefer renting their homes, up from 27% the year before. The preference for renting grew by 12 percentage points among both young singles and couples as well as young families, 10 percentage points for mature families and four percentage points for mature singles and couples.