More renters are staying put. In Q1 2025, the national renter retention rate rose to 55.1%, a 1.7-point year-over-year increase. With mobility down and renewal rent growth outpacing new lease performance, this trend is playing out differently across Class A and Class C segments—especially in fast-growing Sun Belt metros.
New data from the Federal Reserve Bank of New York and Experian shows U.S. credit card debt climbing 57% since 2021 to $1.211 trillion. With delinquencies nearing 9% and interest rates above 23%, rising financial strain—especially among Gen X households—could affect renters’ ability to meet housing obligations.
As consumer sentiment declines, so does renter confidence in making financial moves. With economic uncertainty rising and inflation concerns top-of-mind, households may choose to stay put—especially at lease expiration. This hesitancy could impact revenue performance, particularly where renewal leases offer stronger returns than new move-ins.
