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Long-term renters: What keeps you renting versus owning?
Whether you're a long-term renter by choice or by force, we want to hear what keeps you renting.
Boston is a city of renters. Sixty-five percent of the city’s residents are renters, according to the U.S. Census Bureau, while around 35% are homeowners.
Renters and homeowners alike face a housing crisis at the municipal and state level marked by widespread un-affordability. The shrinking affordable housing market, in part as a result of zoning and land use policies, coupled with a housing shortage and sky-high prices has made it difficult for many families and individuals to rent an apartment – let alone own a home.
More on housing:
Renters who dream of homeownership in Boston are often left with a dream deferred, and could end up renting for years in order to save up for a down payment. A 2015 analysis by Zillow found that Millennial first-time homebuyers rent for six years before buying a home, up from 2.6 years in the early 1970s.
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Other renters may not be interested in homeownership, and pursue long-term renting for its flexibility and freedom, among other reasons.
The reasons for renting long-term are myriad: finances, location, housing availability, interest rates, job security, and so much more are all a part of the decision-making process when it comes to staying or going as a renter.
Whether you’re a long-term renter by choice or by force, we want to hear what keeps you renting.
What factors have kept you a renter? What do you like or dislike about renting long-term? Do you plan to rent for life?
Tell us by filling out the form or e-mailing us at [email protected], and your response may appear in a future Boston.com article.
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