Not only are renters less likely to renew their lease, but home buying preferences are also changing. With closed fitness facilities, pools, and offices those currently renting are now looking for those amenities in home purchases.
Only 34% of renters have been offered any sort of relief from their rental companies. Additionally, renters who pay north of $1,700 per month are the least likely to renew, with renters aged 18-24 being the hardest hit.
And despite stimulus checks, the paycheck protection program, and other government resources, nearly 61% of households in the U.S. remain vulnerable, according to housing market research from Amherst.