New Karma-Harris Poll Shows Growing Trend of Rent-First Lifestyles
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Acccording to a recent Harris Poll conducted with Credit Karma, the rent-first lifestyle is gaining popularity. More than a quarter of Americans surveyed (28%) rent or lease goods and services. The number rises to more than half when considering housing (57%).
Many of those surveyed say that choosing to rent is a personal choice driven by flexibility, the ability to save money, wanting to try things first, and the desire to avoid overconsumption. Nearly 3 in 5 find more value in renting and 64% don’t subscribe to the popular notion that renting is like throwing money away.
Courtney Alev, consumer financial advocate at Credit Karma, says, “Over the last decade, we’ve seen the ‘rental economy’ gain popularity as more opportunities to rent goods and services have flooded the market, offering consumers short-term access to a plethora of items such as clothes, cars, furniture, appliances, electronics and so on. Renting can serve various needs for consumers, whether they’re seeking flexibility, minimalism, or savings.”
The Rent-First Mindset
The rent-first mindset is all about freedom with nearly 3 in 5 of those surveyed caring more about flexibility than the benefits of ownership. It highlights a shift in how people think about ownership.
Renting gives consumers the power to pivot. Want to try a new hobby? Rent the equipment. Moving to a new city? Rent your furniture. This mindset allows you to adapt to life’s changes without being tied down by things.
This mindset also challenges the traditional view that ownership equals success. Experiences are being valued over material goods and renting is seen as smart and practical.
You’re no longer confined by what you own. Instead, you’re free to access what you need, when you need it, without the long-term commitment.
How Renting Ultimately Saves Money
Owning something is expensive. From the initial purchase to maintenance, storage, and eventual disposal, the costs add up quickly. Renting, on the other hand, can be a real money-saver. You pay only for what you use, without the long-term financial commitment. An analysis conducted by Zillow found that homeowners spend an average of $15,000 on hidden costs. Renters? They skip that bill entirely.
Renting also offers the opportunity to try before you buy, reducing the risk of buyer’s remorse. A 2024 survey by Clever Real Estate found that 82% of recent homebuyers had regrets about their purchase, often because of the maintenance and responsibilities that come with ownership. Renting theoretically eliminates that regret. You get the benefits of use without the headache of upkeep. Plus, you can switch things up as your needs and tastes evolve. It’s living lightly and moving freely—an attractive prospect when everything around you is constantly moving.
Instead of splurging on something you might not need in the long run, you can test it out first. This approach leads to smarter financial decisions and less waste. In a time when inflation is a concern for many, renting provides a way to enjoy life’s pleasures without the financial stress. It’s a strategy that’s not only practical but also savvy.
The Rent-First Lifestyle Was Made for Minimalists
I’ve been both a homeowner and a renter and I have come to see the value in both. However, as I get older, I see the need for home ownership less and less.
My focus has shifted to what truly matters and cutting out the excess. I don’t want a house full of things. I want flexibility.
I like renting tools, and who knows, there are probably a few other things I could rent to keep clutter at bay. Is it more expensive? Who knows? I’m sure sometimes it is, but sometimes quality of life is worth the convenience cost to me.
Minimalists are all about living with intention—focusing on what truly matters and cutting out the excess. They’re intentional with their spending, choosing quality over quantity and experiences over things. So, I can see where renting allows us to enjoy the benefits of use without adding clutter to their lives.
Featured Image Credit: Anatoliy Karlyuk and Shutterstock
Theresa is the founder and owner of Simple Is More from Beavercreek, Ohio. She is a nationally syndicated writer whose work has been featured on the Associated Press Wire, Blox Digital, and more. With a passion for words and a love for simplicity, Theresa has built a reputation as a trusted source on minimalism, home organization, budgeting, travel, and wellness. When she's not writing or tidying up, Theresa loves to explore new places, read a good book, and spend quality time with her family.