43 million Americans are coming together, transcending generational gaps, income classes, and familial status. The wealthy and low-income, the recent college grad and the retiree, all brought together under one umbrella, renting. 

Buying your very first home was the American dream, until it wasn’t. The land of the free, but when the American dream no longer allows you to feel financially or emotionally free, dreams evolve.

There used to be a stigma that renting was for the young or the financially unsettled.  If you hadn’t bought a house, you hadn’t completed your “checklist”. Purchasing a house was part of a rite of passage into adulthood and accomplishment. Times have changed. As more families look to setup home in rental properties, the number of renters in the suburbs is growing exponentially. Owning is no longer a pass to be part of a community. Renters are proving that you don’t need to pay a mortgage to be involved and invested members of the neighborhood.

“May I please paint my bedroom?” Such conversations with a landlord may feel reminiscent of talks with your parents. However, find comfort in knowing you’re likely more equipped for such conversations now. Life experiences and money have a way of leveraging your request. Renters of all ages have found that having a landlord to shoulder some of the maintenance responsibilities of a property actually gives them the freedom to focus on higher priority goals, their happiness.

With work, family, and financial needs to achieve, 31 million Americans found themselves packing up and moving in 2019. With the ability to sign a lease for a specific duration, rental properties offer tenants the sense of home without the long-term commitment. Renting provides tenants a sense of freedom for those not quite ready to bury roots too deep in one place.

“Invest in real estate.” Most of us have heard it at some point or another. The rule of thumb has always been real estate is a beneficial and relatively low risk investment. But risks are risks. When the roof leaks, water heater goes, termites invade, homeowners don’t have the luxury of calling the landlord. If the responsibilities of home ownership fall outside your comfort zone, renting offers an appealing lifestyle. 

Rental properties also offer attractive living conditions that are often times are otherwise financially unattainable. As one L.A. area renter shared, “I could never afford to buy here, the only way I would ever own property here is if someone willed it to me. But I love it here, so if renting means I get to stay, I’ll rent.” American’s are weighing their options, and many are finding the financial cost of homeownership isn’t worth sacrificing the happiness a location offers them.

There you have it, renting, the attainable, liberating, new American dream. So, when you sign your lease, just go ahead and date it as Independence Day (except it’s a legal document, so actually use the real date).