Renters and Homeowners Show Declining Intentions to Move Over the Past Decade

Data from the Federal Reserve Bank of New York reveal that both renters and owners are less likely to relocate, with renters' three-year moving plans dropping from about 57% to 37% since 2016.

According to a recent report by the Federal Reserve Bank of New York, Americans are moving less frequently, a pattern that extends to renters as well as owners. The Fed’s Survey of Consumer Expectations shows renters who expect to move within the next three years declined from about 57% in 2016 to 37% in 2026, while homeowners’ expectations fell from 20% to 14% over the same period. Researchers attribute the renters' slowdown partly to diminishing optimism about future homeownership; the average renter’s perceived chance of ever buying a house dropped from roughly 52% in 2015 to close to 35% by 2025.

Those who view homeownership as unlikely are far less likely to plan a move, whereas renters who are confident they will own a home are much more mobile. The study cites higher mortgage rates, soaring home prices and other costs as key factors, alongside personal preference. Complementary findings from a Bank of America Institute report show overall relocation rates declining, with long-distance moves falling faster than intra-metro moves, and the majority of recent movers gravitating toward Midwestern cities.