Renters aren't moving. Here's what the data shows

TurboTenant reports a significant decline in renter mobility during 2024. Current data indicates that only 18.1% of renters are moving, a sharp decrease from the 29.5% recorded in the early 2000s. This trend is largely attributed to high mortgage rates, which discourage renters from transitioning into homeownership. The findings highlight a stagnant rental market where a growing majority of tenants remain in their current residences rather than seeking new housing options or purchasing homes.