Half of Renters Plan to Move This Year

As the rental market strengthens, AppFolio's 2023 Renter Preferences Report finds that half of renters plan to move this year in search of better costs and unit upgrades.

Key Findings

As competition heats up, the report provides actionable insights for property managers to attract and retain residents. The data highlights shifting renter priorities and the growing importance of digital-first leasing experiences.

What This Means for Property Managers

• Retention is critical — with half of renters considering a move, proactive renewal outreach and competitive pricing are more important than ever
• Unit upgrades matter — renters are willing to move for better amenities and updated units
• Cost sensitivity is high — pricing strategy should balance revenue goals with market competitiveness

Property managers who invest in resident experience and competitive offerings will be best positioned to minimize turnover in this dynamic market.