The most common reason why residents rent their homes is that their finances prevent them from buying a home, even though they’d prefer to own. This is the case for 1 in 2 residents of small multifamily properties— slightly more than for residents of other property types.
The desire to become a homeowner is particularly strong in young and middle-aged renters, since older adults are more likely to decide to rent because they’re no longer willing or able to maintain a home of their own.
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