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People who move more often pay more than those who don’t.

3 minute read

Like the place you’re renting out now? Even if you don’t, it can help save you thousands of dollars.

On average across the U.S., those who moved last year ended up paying over $3,900 more than renters who stayed in the same place for five years or more, according to research from the real estate and rental marketplace website Zillow. Staying put can help put roughly $300 in your pocket every month, depending on where you live.

“Renters have a decision to make almost every year – do they stay in the same place, or should they look for a new unit?” says Zillow chief economist Svenja Gudell. “With the country in the middle of an affordability crisis, it’s important for renters to understand how much they can save if they renew their lease instead of finding a new rental.”

Regardless of whether you’re a new renter or a not, rent prices are going up, but they move faster if the property is a new listing, Gudell says.

“Nationally, rental rates have slowed and the savings from renewing are not as significant for renters today. However, in some of the hottest rental markets, where rents are still rising aggressively, continually renewing a lease can mean saving thousands of dollars,” he says.

The best place for renewal renters is Boston, where market rates are moving more than twice as fast as those renewing. After five years of staying in the same place, the average renter in Boston is saving $748 a month, or $8,979 a year.

San Jose topped the charts with most money saved. On average, renters who stayed in the same place for five or more years in San Jose, saved $9,266 annually in rent. San Jose, however, is showing a different trend than Boston.

In San Jose, the renewal rental rate is rising faster than the market rate, at 7.2 percent to 6.9 percent respectively.

Denver is seeing the highest rental rate increase at 14.2 percent. The renewal rental rate increase is also highest in Denver at 12.6 percent, but there are still opportunities out there to save. On average, renters who have been in one spot for more than five years save $417 a month, or just shy of $5,000 a year.

The place with the least incentive to stay put is Las Vegas. People who have stayed in the same place for five or more years only save $70 a month, or $842 a year on average. You might as well roll the dice on a new place.

But regardless of whether it’s Las Vegas or San Jose, Zillow’s data shows that overall it saves big in the long run to stay put. So stop moving and start saving. What about your market? Take a look at the numbers yourself.

Metropolitan AreaNew Rent IncreaseRenewal Rent IncreaseMonthly

Savings After

5 Years


Savings After

5 Years

United States5.6%3.6%$329$3,946
New York/Northern New Jersey5.6%3.9%$615$7,376
Los Angeles-Long Beach-Anaheim6.3%2.4%$489$5,863
Dallas-Fort Worth7.0%8.4%$252$3,024
Miami-Fort Lauderdale6.1%5.5%$371$4,457
San Francisco12.9%8.8%$738$8,860
Minneapolis-St Paul6.1%0.2%$229$2,750
San Diego4.1%-1.0%$488$5,861
St. Louis-0.1%1.2%$206$2,476
San Antonio10.1%6.2%$327$3,927
Kansas City4.8%1.7%$143$1,722
Las Vegas2.4%6.0%$70$842
San Jose6.9%7.2%$772$9,266
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About the Author

Gregory Cox

Gregory Cox

Cox is a freelance writer for

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