{"id":185200,"date":"2025-10-15T11:25:17","date_gmt":"2025-10-15T17:25:17","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=185200"},"modified":"2025-10-15T11:27:55","modified_gmt":"2025-10-15T17:27:55","slug":"nearly-half-of-all-renters-leave-within-two-years-according-to-new-report","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/nearly-half-of-all-renters-leave-within-two-years-according-to-new-report","title":{"rendered":"America\u2019s Renters Are Constantly on the Move\u2014Here\u2019s How Landlords Can Keep Them Longer"},"content":{"rendered":"\n

Near the top of most landlord frustrations is when good tenants decide to move. It happens frequently, according to a new report by <\/span>RentCaf\u00e9<\/span><\/a>, which reveals that 38% of tenants move within two years. <\/span><\/p>\n\n\n\n

Tenant churn is one of the pitfalls of landlording <\/span>and can<\/span> significantly impact revenue due to the costs of repairing and redecorating an apartment, as well as the vacant period while trying to find a new tenant. <\/span>Enhanced<\/span> tenant protections<\/span><\/a> from the government have limited the scope that landlords can apply <\/span>fees<\/span> to help offset overheads.<\/span><\/p>\n\n\n\n

Over Half of Austin’s Renters Moved Within 24 Months<\/span><\/h2>\n\n\n\n

The RentCaf\u00e9 survey uses IPUMS ACS data (Integrated Public Use Microdata Series). This project collected and harmonized census and survey data from around the world. ACS refers to the<\/span> American Community Survey<\/span><\/a>, an annual survey conducted by the U.S. Census Bureau. <\/span><\/p>\n\n\n\n

The report on 105 U.S. metro areas, <\/span>looking at<\/span> data <\/span>between<\/span> 2018 <\/span>and<\/span> 2023, notes that the Southeast, particularly Texas, had a high percentage of tenants with itchy feet.<\/span><\/p>\n\n\n\n

In fact, Austin saw 54% of local renters moving to new addresses within two years, followed by Provo, Utah, in the West, <\/span>at<\/span> 60%.<\/span> Charleston, South Carolina, was third, with nearly 55% of renters <\/span>hitting the road<\/span> within two years. Demographically, Gen Z renters contributed to 72% of all moves within two years in 2023.<\/span><\/p>\n\n\n\n

Interestingly, although the numbers for tenants moving remain high, they have dropped by 2% from 2018 to 2023, <\/span>to 38<\/span>% <\/span>from 40<\/span>%.<\/span> This decline is due to the pandemic ravaging high-density areas, job losses, and remote working, <\/span>leading<\/span> to a mass exodus of tenants. <\/span><\/p>\n\n\n\n

Correlating this data is a report from data and analytics site<\/span> Point2Homes<\/span><\/a>, a sister company of rental management software company Yardi Matrix, analyzing census data, shows that overwhelmingly, renters are moving to the suburbs around America’s 20 largest metros, with suburban rental populations doubling between 2018 and 2023, forcing developers to focus more on <\/span>multifamily<\/span><\/a> communities than urban locations. <\/span><\/p>\n\n\n\n

Why the Uptick in Renter Movement?<\/span><\/h2>\n\n\n\n

Affordability <\/span><\/h3>\n\n\n\n

Affordability is the common cause underpinning the many reasons people move. Whether it’s job relocation, a desire to live in a more spacious property, or access to good schools, the surge is fueled by the desire to get more bang for your rental buck<\/span>, as the<\/span> rapid increase in the cost of living has left many Americans struggling to cover their housing costs.<\/span><\/p>\n\n\n\n

Only 3% of respondents believe housing costs in the U.S. are “reasonable,” according to a survey conducted by Tavern Research for the<\/span> Searchlight Institute<\/span><\/a>.  An overwhelming 94% said housing costs were either \u201ca little high,\u201d \u201ctoo high,\u201d or \u201cway too high.” With<\/span> housing affordability<\/span><\/a> at a four-decade low relative to income and 50% of renter households classified as<\/span> cost-burdened<\/span><\/a>, the results are hardly surprising. <\/span><\/p>\n\n\n\n

Job mobility and work-from-home flexibility<\/span><\/h3>\n\n\n\n

Being able to work from home appeals to renters who <\/span>are no longer hitched<\/span> to commutable areas.<\/span><\/p>\n\n\n\n

More housing options with new construction increase tenant churn<\/span><\/h3>\n\n\n\n

It’s not surprising that tenants are moving to mostly Sunbelt areas, where <\/span>the new construction of apartments has been most robust<\/span><\/a>, according to a report from the National Multifamily Housing Council (NMHC) cited by<\/span> Davis Vanguard<\/span><\/a>. Conversely, where the production of new housing was limited, so was tenant mobility.<\/span><\/p>\n\n\n\n

The report says:<\/span><\/p>\n\n\n\n

“Our findings suggest that the underproduction of housing in the U.S., aside from making housing less affordable, may also be inhibiting renter mobility, which has been on the decline for decades. <\/span>This<\/span> means that renters may not always be able to move homes for better employment prospects, <\/span>in search of<\/span> better or cheaper housing, or even to form a household in the first place<\/span>\u2026.<\/span>Regardless of causality, certain types of moves, such as household formation and in-migration, <\/span>simply<\/span> wouldn’t be possible without the addition of new units.”<\/span><\/em><\/p>\n\n\n\n

Migration Trends to Watch<\/span><\/h2>\n\n\n\n

Smart Rent<\/span><\/a> tracks tenant migration into specific trends:<\/span><\/p>\n\n\n\n