For renters in the United States, not buying a home may become their biggest regret. According to the Zillow Housing Aspirations Report, 45% of renters regret not purchasing a home, while only 8% of homeowners regret not choosing to rent, which is less than one-fifth of the former.
Half of the respondents wish that rent could be lowered.
Surveys show that the biggest dissatisfaction among renters is the inability to establish a fair and equal relationship with landlords and the inability to customize and improve their living environment, with both options receiving around 52% of the votes; additionally, about 50% of respondents expressed a desire for lower rent.
Of course, some people chose other factors. About 40% of renters complained about the small size of their rental properties, while this proportion is only 21% among homebuyers. 49% of renters chose the lack of private outdoor space, whereas only 25% of homeowners complained about insufficient yard space.
In major metropolitan areas, at least 87% of renters are dissatisfied with their housing, compared to only 72% of homeowners who feel similarly. The highest proportion of renters dissatisfied with at least one aspect of their rental situation is in Phoenix (93%), followed by San Francisco (92%), with Denver, San Diego, and San Jose, California performing similarly (all at 91%).
However, like homeowners, renters become less picky as they age: among renters aged 18 to 34, at least 90% are dissatisfied with at least one aspect of their rental situation, while this proportion is 82% among renters aged 55 and older.
The inability to conveniently keep pets and the lack of parking spaces are the two biggest differences in dissatisfaction across age groups. 38% of younger renters chose the pet ownership option, while the proportion among older renters is 21%. Similarly, 40% of younger renters indicated a lack of sufficient parking spaces, compared to 25% of older renters.
Having children also affects housing choices. Renters with children are more likely to be dissatisfied with their rental situation, at a rate of 93%, compared to 86% for those without children. Of course, 59% of renters with children regret not buying a home, a higher rate than the 42% of renters without children.