About one-quarter of adults rent their home. Find out the top 3 reasons why.

Answer:

The top reasons people rent:

1. Can’t afford down payment
2. More convenient or flexible
3. Can’t afford mortgage monthly payment

Questions:

•  Summarize: what is the main broad reason that people decide to rent?
• What factors might make someone MORE likely to decide to rent, rather than buy?
• At what age do you think you would feel ready to buy a home, if at all? Why?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Federal Reserve): 

"Renters frequently cited multiple reasons for renting their homes. Similar to reasons reported in recent years, financial constraints led many adults to rent their home instead of owning in 2024. The most cited reason for renting was an inability to afford a down payment—just over two-thirds of renters cited this as a reason. Forty-two percent of renters said they rent because they cannot qualify for a home mortgage, and 49 percent said they rent because they cannot afford the monthly mortgage payment."

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.

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