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.
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Category: Apartment Life