Perks of Renting in 2025

Navigating the housing market can be overwhelming, especially in today's economic climate. Whether you're considering buying your first home or continuing to rent, the decision is both a financial and a lifestyle choice that requires careful consideration. Homeownership is becoming increasingly challenging — in fact, the National Association of Realtors’ Housing Affordability Index reveals that, since 2019, the monthly payment for a median-house (excluding insurance and property taxes) has more than doubled.  In over 237 U.S. cities, you now need around $1 million just to secure a starter home. As homeownership becomes more out of reach, renting is emerging as a more viable alternative for many. 

Renting offers greater financial freedom, fewer long-term commitments, and a lower barrier to entry. Beyond cost savings, renting caters to the needs and preferences of modern renters, providing access to premium amenities, low-maintenance living, and flexibility to adapt to ever-changing lifestyles. Renting in 2025 is no longer just a financial fallback — it’s a lifestyle choice that allows for greater convenience and adaptability. 

Perks of Renting 

Flexibility

Renting provides unparalleled flexibility both financially and lifestyle wise — making it an attractive option for today’s diverse generation of renters. With the rise of remote and hybrid work since the pandemic, people are no longer tied to one location and can easily live in different cities or even countries. This option is especially attractive to younger generations like Gen Z who are expected to surpass millennials as the largest renter demographic by 2030. In fact, a study by Freddie Mac found that 76% of Gen Z consider flexibility to be the biggest advantage of renting.

Interestingly, even Baby Boomers are increasingly opting to rent, with 83% preferring it due to the sense of freedom to move when and where they want to. After raising families in larger homes, many are downsizing and opting out of the responsibilities of homeownership. Renting also offers greater financial flexibility, a national survey by RealPage found that 48% of American renters believe renting offers them financial freedom — allowing them to allocate funds towards investments, savings, or unexpected expenses. Renting allows families and individuals to adjust their living arrangements as their needs evolve — whether it’s a bigger or smaller space, a new location, or access to different amenities. For those who value the freedom to adapt their living situation to fit their lifestyle, renting aligns perfectly with a modern, dynamic way of living. 

Lower Upfront Costs

One of the most attractive aspects of renting is the lower upfront financial commitment — which is the top reason renters reported renting their current apartment according to a national survey conducted by RealPage. Typically, renters have to pay a security deposit and the first month's rent, which is significantly less than the down payment required to purchase a home. Sometimes, even security deposits can be a heavy financial burden — at Rhino, we offer security deposit insurance that can save renters up to 90% on upfront costs, with policies starting as low as $7 per month. This allows you to focus on essential payments like rent, while helping to ensure stability for property owners.*

When you rent you avoid all the additional costs associated with buying a home that most forget to take into consideration including:

• Reduced Cost of Entry: Renting avoids hefty down payments and allows for sidestepping high mortgage interest rates, currently around 6.2% according to the Consumer FInancial Protection Bureau — a nice decrease from its peak of 7.79% in October 2023.

• Minimal/No Maintenance Costs: Renters are not responsible for the ongoing maintenance and repair costs, which have increased 5.9% YoY for homeowners — averaging around $10,433 to maintain a single family home.  

• Avoiding Property Taxes: Homeowners pay an average of $4,062 annually in property taxes, a figure that has risen around 4% in the past year. 

• Home Insurance: According to Bankrate, the average cost of home insurance in November 2024 is $2,304 for a policy with a $300,000 dwelling limit — around $193/month. This number is still increasing due to the impact of inflation, elevated cost of building materials, and the likelihood of future extreme-weather related losses. 

Maintenance-Free Living

In a rental property, the responsibility for maintenance and repairs usually falls on the landlord. This can save renters both time and money, as they don't have to worry about the time and costs associated with unexpected repairs. 

Many apartment complexes provide a range of common services that enhance the overall renting experience. These services often include trash and recycling collection, regular cleaning of shared areas, and landscaping maintenance. By alleviating the burden of these tasks, renters can truly embrace a worry-free lifestyle, allowing them to enjoy their homes without the challenges of upkeep and maintenance.

Access to Amenities

Many apartment complexes provide a range of basic and luxury amenities—such as fitness centers, co-working spaces, swimming pools, rooftop lounges, and 24/7 security—that would be far more expensive or even impossible to have in a privately-owned home. For renters, these perks are often included in the cost of monthly rent, allowing you to enjoy a higher quality of life without the financial burden of upfront costs and maintenance. According to the New York Times, Developers are tapping into “the confluence of high interests in mortgages, the need for large apartments to accommodate families and the desire for upscale living” by catering amenities to would-be homeowners.

Safety & Security

Renting in 2025 offers a high level of safety and security that many homeowners may not have access to. Modern apartment complexes are designed with advanced security features such as gated access, surveillance cameras, keycard entry, and well-lit common areas to ensure residents feel safe and protected in their homes. Many buildings even provide on-site staff or doormen, adding an extra layer of security by monitoring access and offering immediate assistance and surveillance. Additionally, apartments often have secure mailrooms where deliveries are safely stored until retrieved, reducing the risk of theft or weather-related damage. For buildings without on-site staff, local delivery services may be given access to secured mailrooms or entrances for safe drop-off. This added convenience and security ensures peace of mind, whether you’re home or away, knowing your packages are safe and sound. 

For added protection, renters insurance is essential to protect your personal belongings and provide liability coverage in case of unexpected events like theft, fire, or water damage. Many landlords even require renters insurance, as it covers your possessions, regardless of your landlord’s own coverage. With Lemonade, renters insurance starts as low as $5 per month**, offering affordable, customizable coverage that fits your lifestyle and budget. Their easy-to-use app makes it simple to personalize your policy and file claims quickly. Sign up with Lemonade today to protect your belongings and gain peace of mind. 

Community & Social Gathering 

One of the most overlooked perks of renting is the strong sense of community and opportunities for social engagement that living in an apartment offers. 

Some amenities include:

• Pools

• Fitness Studios & Classes

• Organized Seasonal Parties

• Happy Hours

• Communal Spaces to Host/Lounge

• Co-Working Spaces

• Kids Playgrounds/Play Space

• Rooftops

• Green Spaces

Bernadette Joy, millionaire and CEO of Crush Your Money Goals, even prefers apartment living now over homeownership. She says “Living in the suburbs during the pandemic, I felt a little isolated. It made me realize how much I wanted a walkable environment.” In an apartment complex, you’re more likely to find a walkable community and opportunities to connect with others — whether in a shared workspace or at a community event. 

Renting Better Suited for the Modern Lifestyle

In 2025, renting offers a variety of benefits that align with the evolving needs of today’s renters, transforming into a viable long-term choice for both individuals and families. As lifestyles become more flexible, renting provides the freedom to adapt to changing circumstances and lifestyles. Whether it’s the convenience of maintenance-free living, access to premium amenities, or the opportunity to live in a vibrant community, renting supports a modern way of life. With fewer long term commitments and greater financial flexibility, renting empowers people to focus on what matters most — be it personal growth, career advancement, or simply enjoying life to the fullest. Renting has become more than just an option; it’s a lifestyle choice that offers convenience, freedom, and a dynamic living experience.

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*Actual monthly rates determined based on the specific information provided to Rhino. Monthly payment plans may not be available to all renters.

**Features, prices, coverages, and available discounts may vary by state and are subject to qualifications.

Disclaimer: This blog is not and should not be construed as legal or other professional advice. It is intended for general informational purposes only. Rhino makes no representations regarding the information contained herein and expressly disclaims all liability with respect to such information.