Nearly Half Of Renters Say Renting Improves Their Quality Of Life

A new survey by Cortland reveals that 43% of American renters believe renting has enhanced their quality of life compared to homeownership — highlighting a shift in traditional views of the American Dream.

The survey, which gathered insights from 1,000 U.S. renters, found that only 32% see homeownership as part of their ideal future. They identified the key benefits of renting as affordability (59%), convenient locations (51%), and maintenance support (49%). Many renters are opting out of buying a home due to concerns over maintenance (45%) and avoiding debt (40%), suggesting that renting is no longer seen as just a temporary phase but a deliberate lifestyle choice.

“The landscape of American living is evolving, and apartment living is no longer just a temporary phase,” said Juan Bueno, President of Operations at Cortland. “For many, it’s a deliberate choice due to the flexibility and amenities renting offers, in addition to enhanced experience, community, and freedom from the burdens often associated with traditional homeownership.”

The survey found that younger generations are particularly skeptical about homeownership. Among Gen Z and millennial renters, 41% expressed doubt or uncertainty about ever being able to buy a home. However, 84% of Gen Z renters and 81% of millennials reported being at least somewhat satisfied with renting as a viable alternative. Among older generations, 71% of Gen X renters and beyond also expressed satisfaction with their current rental situation.

According to the survey, high housing costs (58%), rising living expenses (52%), and lack of savings (46%) are the most significant barriers to homeownership.

More than half (53%) of lifelong renters report having higher expectations for rental properties, with many believing renting meets their needs and preferences as well as homeownership.

More than half of former homeowners (52%) believe renting has enhanced their quality of life, compared to 38% of those who have never owned a home. A third of renters (34%) who feel renting has improved their quality of life attribute the benefit to a sense of community.

Urban living is more popular in the Northeast, where 38% of renters say they would prefer city life over suburban areas if renting permanently.

As attitudes toward homeownership continue to shift, Cortland Chief Experience Officer Mike Gomes sees this as a pivotal moment for the multifamily housing industry.

“This evolution in housing preferences marks a critical moment for the multifamily industry, as it adapts to meet the needs of a diverse renter population seeking adaptable living options, ease of access, and a sense of belonging from their living arrangements,” Gomes said.

Cortlands resident-focused approach to apartment living reflects this shift, as the company integrates hospitality-driven amenities, modern design, and community-focused services to meet the changing expectations of renters.