How has the economy affected renters?

This story version has been formatted as an on-air script for broadcast outlets. See the original research story here.

NEARLY TWO IN THREE AMERICAN RENTERS (63%) HAVE THOUGHT ABOUT MOVING SOMEPLACE CHEAPER, ACCORDING TO NEW RESEARCH. 

THE SAME SURVEY FOUND A SIMILAR NUMBER (67%) BELIEVE THEY’LL NEVER BECOME HOMEOWNERS BECAUSE OF RISING HOUSING COSTS.

OUT OF 2,000 RENTERS POLLED, SEVEN IN 10 SAY THEY’RE NOT EARNING ENOUGH TO MAKE ENDS MEET WITH RENT, BILLS AND HOME ESSENTIALS. 

THAT COULD EXPLAIN WHY HALF OF RESPONDENTS ARE IN DEBT WITH THEIR LANDLORDS (51%). 

IT DOESN’T HELP THAT 61 PERCENT SAW THEIR RENTS GO UP IN THE LAST YEAR. 

ACCORDING TO THE SURVEY CONDUCTED BY LEMONADE AND ONEPOLL, TWO IN THREE (65%) HAVE LOOKED FOR PLACES WITH THE LOWEST RENT, 60% DOWNGRADED THEIR APARTMENT/HOUSE SIZE AND 57 PERCENT HAVE TRIED TO NEGOTIATE A REASONABLE PRICE/INCREASE WITH THEIR LANDLORD. 

Survey methodology:

This random double-opt-in survey of 2,000 American renters was commissioned by Lemonade between November 9 and November 14, 2022. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).