The Paletz Law Blog

Good News for Landlords and Rental Property Owners: An Increasing Number of Renters Are Staying Put

October 13th, 2026 | By: Paletz Law Press

The revolving door at your rental properties is clearly slowing. The latest numbers coming from Ohio for example, show renter turnover fell 29.6% in 2014 to 22.9% in 2024. Future forecasting points in the same direction. Federal Reserve Bank of New York researchers found the average renter’s three-year moving probability dropped from roughly 57% in 2014 to about 37% in 2026 and CBRE reports that renewals now make up 57% of apartment leasing activity, up from 48% in 2005. 

So, what does this mean for Landlords and rental property owners? Here’s a look at the why and how these trends affect you.  

So, Why are More Renters Staying Put? 

You don’t have to be an economics whiz to know the answer. Homeowners are locked in. The average 30-year mortgage rate was 2.65% in early 2021 and now sits above 6.7%. On a $400,000 home with 20% down, that is roughly $1,289 a month versus $2,067. With nearly half of outstanding mortgages at 4% or lower, owners aren’t selling, and starter homes stay scarce.

Concurrently, buying is out of reach for many. First-time buyers made up just 21% of the market in 2025, and their median age reached 40, both record numbers. New York Fed researchers also found renters are increasingly putting their odds of ever owning a home at extremely low levels. That number dipped to about 35%, from roughly 52% in 2015.

Moving is expensive. Renewing a rental lease means no application fees, new deposit, or moving costs, so staying often beats leaving, even after some get a rent increase.

What it means for Ohio and Michigan landlords

Low turnover improves your bottom line. Fewer move-outs means fewer vacancies, less cleaning, painting, and re-marketing, and steadier income that you could budget against. A March 2026 TurboTenant survey found 81% of independent landlords saw rental demand hold steady or improve. Not surprisingly in the economic landscape that currently exists, about 75% reported higher operating costs, making every tenant that renews their lease more valuable.

That said, stability isn’t automatic. According to AppFolio’s 2026 Renter Preferences Report, which is based on an April 2026 survey of 3,002 U.S. renters, the national rental vacancy rate reached 7.3% in the second quarter of 2026, up from 5.6% four years earlier. Renters are now exploring more choices than they used to (especially in areas like the South that overbuilt after the pandemic), including the growth of manufactured housing. According to the survey, maintenance issues are the strongest single driver of renter satisfaction. Obviously, keeping your tenant happy is the biggest driver of renewal. 

The legal side of longer tenancies

A tenant who stays six years means multiple renewals, rent adjustments, and lease changes. Each one is a legal touchpoint where outdated lease language, improper notices, or undocumented repair requests can become costly disputes.

Contact Paletz Law to review your lease documents before your next renewal cycle.