Renting is no longer temporary, it’s a deliberate lifestyle decision, according to Knightvest Capital’s third annual “Multifamily Renter Sentiment Report.” In a poll conducted of over 2,000 apartment renters in September, more than half, 52%, say they do not view homeownership as a status symbol, up from 45% last year. In addition, roughly half say they are uninterested or neutral about owning a home in the next five years.
“These findings underscore our renewed optimism for the multifamily industry as renters report confidence in both their personal financial situations and in their decision to rent going into 2026,” said David Moore, founder and CEO of Knightvest, a vertically integrated multifamily investment firm. “The winners in this environment will be firms that recognize apartments are no longer viewed as temporary housing, but rather a lifestyle category that demands long-term thinking on amenities, service, and community experience.”
Only 53% reported they would be more likely to purchase a home if interest rates drop in 2026. This is down from 70% in 2024 and 60% in 2025.
Nearly two-thirds of those who choose to rent have previously owned a home, according to the findings, highlighting how affordability in not the sole factor in the buying versus renting decision.
The top reasons respondents cited for renting are the high cost of homeownership, 61%; lower maintenance responsibilities, 56%; and desirable locations, 34%. Desirable locations bumped flexibility out of the top three reasons this year.
The survey also found differing generational preferences, with Gen Z renters emphasizing cost for their primary reason for renting versus lower maintenance responsibilities for baby boomers.
Respondents also weighed in on smart technology, with only about 40% finding that to be important when making a decision to rent. The top three valued features are smart lock and keyless entry; smart thermostat; and video doorbell and smart security.
“The findings reflect what we’re hearing directly from residents in that people are making more deliberate decisions and staying longer in communities that deliver quality and consistency,” added president Daniel Ebner. “Our goal is to meet that higher bar and continue earning the trust of residents who make our communities home for the long term.”