A Third of People in the Denver Metro Area are Renters and Better Off Financially

Corporate Housing Solution | July 15, 2019

A recent Denver Post article reporting on a survey conducted by Apartment List on 5000 people demonstrated that despite the Denver Metro area being filled with a population of renters, there is still stigma associated with the trend,

“A survey of 5,000 people conducted by Apartment List found a significant share of the population, about three in 10 people, attached a stigma to renting.

Some of the terms used to marginalize renters by survey respondents included “transient,” “poorer,” “second-class citizens,” “less successful,” “not fully invested,” and “wasting their money.”

About 34 percent of renters and 28 percent of homeowners agreed that renting in America, something 109 million people do, carries a stigma, according to the survey.

“I was surprised to find that the perception of renter stigma was at least as high among young people and respondents in cities or urban cores of large metros,” said Igor Popov, chief economist with Apartment List.

Popov had expected city dwellers and young adults would have the most favorable view of renting, given that they were more likely to rent. But that wasn’t the case. Adults over the age of 60 and rural residents were the most accommodative on the topic.” (Denver Post)

 

The article points out that one would expect the older generations to have negative associations with the idea of renting, but the reality is it seems even the younger generation has the same feelings associated with renting. But the article goes on to point out that renters actually have more freedom to pursue opportunities and make more money than homeowners usually have been tied to a long-term mortgage.

“And it wasn’t that long ago, last decade, when a large number of homebuyers impoverished themselves taking on loans they couldn’t afford on overpriced homes.

Renters also gain flexibility when it comes to pursuing job offers and advancing their careers, something that can allow them to earn more over time and build greater wealth.

“Our survey found that renters are significantly more likely to consider attractive job offers that would require relocation,” Popov said.” (Denver Post)

 

It just goes to show that the world is changing, and people do not like being tied down by long-term contracts seeing it severely limits and restricts their options. Whether it is a phone contract or a mortgage, there are still ways of securing financial freedom without buying into old adages that equate homeownership with financial security.

Renters have a degree of freedom, and rental options that are becoming more attractive.

 

Denver Rental Options like:

  • Short-term rentals

  • Executive Rentals

  • Corporate Housing Rentals

  • Furnished Rentals

 

These arrangements are being sought ought by more and more people who see the value in the ability to move and pounce on opportunity when it comes their way.




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