Every year, millions of people who rent their homes – apartment residents – face the decision to renew their lease or move somewhere new. For property managers, understanding what renters want and the most common reasons for moving out is critical to reducing tenant turnover and driving stronger NOI.

That’s why we created our latest report – What Renters Want: The Data On Why Residents Move Out – a comprehensive analysis of over 60,000 households over the last 12 months that reveals the real factors behind renewal decisions and apartment turnover.

This free report goes beyond surveys and anecdotes. It uncovers the data-backed story of why residents choose to stay, why they leave, and how operators can intervene earlier to protect retention.

Reasons for Moving Out According to Residents

Research consistently shows that renters’ reasons for moving are a mix of financial, lifestyle, and service-related reasons:

• Affordability pressures – Rent increases are one of the top drivers of tenant turnover.
• Life changes – Job relocations, family growth, or downsizing all create new housing needs.
• Service and maintenance issues – Poor responsiveness or unresolved problems push residents to look elsewhere.
• Amenities and quality of life – Renters increasingly prioritize properties that align with lifestyle needs, from smart-home features to community engagement.

Although the reasons to move out are well recognized, our dataset quantifies their frequency and uncovers the combinations of factors that most reliably predict a non-renewal.

Why This Report Matters

Apartment turnover is one of the biggest expenses in multifamily. Each non-renewal drives thousands in lost revenue and added costs. Identifying the true reasons for moving is the first step toward reducing churn.

In this report, you’ll learn:

• The most common reasons to move across different resident demographics.
• Which pain points are most closely linked to tenant turnover.
• How retention strategies can be adapted to reduce turnover.

Fresh insights into what renters want most – from amenities to digital convenience.

Fresh insights into what renters want most – from amenities to digital convenience.

At Renew, we believe data is only valuable if it leads to action. That’s why this research pairs resident turnover insights with practical strategies:

• Use our resident retention platform to intervene earlier in the renewal cycle.
• Leverage lease renewal services to streamline offers and prevent last-minute churn.

Explore how property management technology and tech adoption in multifamily are shaping renter expectations.

With the right data and tools, operators can shift from reacting to proactively anticipating needs and delivering on what renters truly value.