Polling 2,000 Gen Zers, Entrata and Qualtrics found that the generation wants to rent, not because they have to. The majority (72%) say renting is financially smarter, and 83% say renting allows them to save for priorities like travel or career development.
The flexibility and financial freedom of renting are major perks for Gen Z renters who also expect a level of convenience. Like online shopping and food delivery, 63% of Gen Zers prefer a tech-first rental experience for leasing, maintenance, and communication. Forty percent prefer text or AI-based communication with landlords and property managers, and 25% say improved tech is the top way their current rental experience could be better.
When asked how they would spend a year of free rent:
- 39% would save for the future;
- 22% would pay down debt; and
- 17% would travel the world.
Desiring less responsibility, 37% of Gen Z renters enjoy the ease of on-call maintenance over owning. While some say homeownership isn’t totally off the table, 38% are burdened by student debt, making it difficult to consider taking on more.
The report also found:
- 57% say high mortgage rates are a top reason they’re not buying right now;
- 40% cite career uncertainty as a risk factor that makes homeownership feel unwise;
- Only 30% say traditional amenities like pools or gyms are a top priority;
- 59% describe renting as a way to live life on their own terms; and
- 57% believe renting offers financial advantages that homeownership does not.
