Everyday the world of renting a home or an apartment changes with the wants and needs of the renters. ~The questions are, “What do renters truly want from their homes?” and “What is the current status of the rental market?
Vacancy and Rental:
The increase in renters from 2000 shows that people are renting more frequently, though there are still states with a great number of vacant apartments.
- 34.9% of housing units in the U.S. are rented. 
- The average person in a one bedroom rental pays $900 a month at the center of a city. 
- That same person outside of the city pays $697 on average a month.
The Top 5 States For Vacancies and the Percentage Increase In Number of Renters since 2000: 
– Vacancy rates and %age increase in renters information indicates that the areas have plenty of both vacancies and renters.*% Increase in number of renters since 2000
Average Cost of Renter in Popular Cities:
Americans pay a pretty penny for their lifestyle in the country’s largest cities. – On average, those renting a home or an apartment use over 20% of their income to pay for their living space.
Cost of Rent For an Apartment Per Month [4, 5, 6, 7, 8, 9]
|1 Bed(CC)*||1 Bed (OCC)*||3 Bed(CC)*||3 Bed (OCC)*|
*CC: City Center, OCC: Outside City Center
Why Do Americans Move to New Neighborhoods:
Of well over 12 million renters polled in a 2009 American Housing Survey: 
- Over 20% relocated for their job.
- Around 25% or respondents relocated to be closer to good schools, leisure activities, public services and transportation or a friend or relatives location.
- Close to 21% relocated because they liked the layout of the living space or design of the new neighborhoos.
- 34% cited “other”, “all reasons”, or did not respond.
Reasons for Moving into a New Rental Home or Apartment Rental:
1,448,000 of respondents cited their reason for moving as a combination of all factors listed.
|Reason for Moving||Number of Individuals Who Moved|
|Quality of Housing Structure||231|
|Only Unit Available||608|
|Combination of All Factors||1,448|
Cheapest and Most Expensive Cities to Live In:[11,12]
– Total Respondents: 12,300,000: The US Census Bureau polled a total of 12,840,000 renters, of that 5400,000 did not respond.
|Cheapest Cities||Cost of Living Index||Most Expensive Cities||Cost of Living Index||Difference in Rent Cost|
|Brownsville, TX||80||New York City, NY||218||+$2,744|
|Pueblo, CO||84.1||Honolulu, HI||171||+$1,866|
|Ft. Hood, TX||84.8||San Francisco, CA||164||+$2,189|
|Springfield, IL||86||Washington, DC||141||+$1,343|
|Waco, TX||86||Fairbanks, AK||138||+$1,009|
While most people choose to move based upon their financial situation, it certainly doesn’t mean amenities aren’t a concern. It’s hard to know exactly what every renter wants every time. However, growth of available housing units throughout the United States over the past twelve-year period has created more choices and better quality which in turn has led to a change in how people perceive renting.
This infographic was brought to you by ForRent.com and Homes.com.
There are millions of great apartments to rent and homes to buy in these areas as well as nationwide. Use Homes.com and ForRent.com to get started today.
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