Renting in mid 30s-40s how common is it

[Lm1981]

I am curious how common it is. My circle of friends who I have grown up with are now all early to mid 40s , most of us own a home (mortgage). Just wondering if many rent in this age group and do you find it liberating from point of view can move around or is a limiting as in not putting roots down?

Not very common in my experience. Most people own by 35

The English Housing Survey is an annual survey of people’s housing circumstances and the condition and energy efficiency of housing in England. It has been running since 1967.

They say that in 2023 the figures were this:

Owner occupiers accounted for 64.8% of households in England (split 35.3% own outright and 29.5% with a mortgage).

There are 18.8% of households who are private renters and 16.4% who are social renters.

The average age for owner occupiers is 57.3 years (split 67.4 own outright and 45.1 with a mortgage).

The average age for private renters is 41.2 years and for social renters is 53.2 years.

Age bands 16 - 24
Own Outright 1.6%
With mortgage 8.6%
Private renter 74.0%
Social renter 15.8%

25-34
Own Outright 4.1%
With mortgage 40.6%
Private renter 38.6%
Social renter 16.7%

35 - 44
Own Outright 8.8%
With mortgage 50.2%
Private renter 24.0%
Social renter 17.0%

45-64
Own Outright 32.0%
With mortgage 37.3%
Private renter 13.8%
Social renter 16.9%

65-74
Own Outright 71.6%
With mortgage 6.1%
Private renter 7.4%
Social renter 14.9%

75+
Own Outright 75.3%
With mortgage 3.8%
Private renter 4.9%
Social renter 16.0%

Source:

https://www.gov.uk/government/collections/english-housing-survey

I think that the age of first ownership has been slipping for a number of years - quite correlated to house price growth. 40's is the new norm (let me know if you want me to dig out stats to evidence that).

Most don't rent out of choice but out of necessity. Some will rent because they are fluid in location and buying makes no sense. Some will rent (See housepricecrach.co.uk) because they think that a big correction is around the corner.

Thank you some very interesting stats. I had assumed more rented my their 40s but definitely seems to change by mid 30s as people settle down etc

It depends on the social group of people. Statistically heaps of people rent. In my circle of colleagues, no one rents (and I mean no one).

According to this, I'm wrong. It's 34.

https://www.finder.com/uk/mortgages/first-time-buyer-statistics

Mid 40s and rent. No intention of buying

Stats as of May 2024.

Number of Homeowners and Renters in the UK | NimbleFins

Varies by area too, outside of London people definitely "settle down" younger by that I mean couple up and get a place together, stats aren't full proof on this as it's hard to prove two people unmarried sharing are a couple but anecdotal evidence points this way

I'd say it's 50/50 in my group of early-mid 30s. Most of the ones living in cities rent, most of the ones living in smaller towns own.

In Europe property is called Immobilien, because once you own it, you become immobile (historically speaking). Renting is very common at all ages.

Not very common in my experience. Most people own by 35

Among my friends in Cornwall in our mid 30's it's about 50/50. A couple of my friends still live with their parents.

About 50/50 in S/SE London, even those with families.

DS chooses to rent, he is reasonably well paid and could afford to buy a small house but likes to live in the city centre and would not buy a flat for various reasons. He is 32 and single.

Well good for you. I rent and have never owned. On one salary and student debts I could afford to.

I rent. It's liberating in a way. I can just up and move to somewhere completely different and when the sink started leaking last week, the landlord paid for it.

Mid 30s we rent will probably never be able to afford to buy due to extremely high rent. We don't have the option to move in with mummy and daddy to save can't just move as the rental market is dog eat dog so by the time you find somewhere decent it's already been let out. Shitty situation to be in if you're not from a back ground of wealth or have saved since being in the womb.

common in london for singles/new immigrants, less common for couples. Almost all the (committed) couples we know own either due to their own salary or family help or combination of the two.

Early 30s but many people i know are in mid 30s or older

I'm 39 and renting. But am in the process of buying my first home. I turn 40 in two months, but probably won't quite be in the house by then!

Very common. 29% of English households have a mortgage. 71% don’t. Of the 71%, roughly half own outright and half rent. That was from a tweet by ex BoE governor.

Given that a lot of people in their 20s can’t afford to move out at all, there must be a lot of 30s and 40s renting. Cos they’re not in the group of owning outright!

My mum and dad have never owned their own house and rent from a housing association. They are in their 70s now and I grew up in the house

My mum is 63 and still rents - has never owned. My dad only bought his first house about 5 years ago.