Given the rise of home improvement shows and DIY challenges, it is easy to believe that most folks in the US are homeowners. While homeownership is certainly popular in the US and abroad, it is hardly the only choice for a residence to call home-sweet-home. Believe it or not, apartment living is more popular than ever! Just how many people actually live in apartments in the United States?

Statistics show that a whopping 38 million people choose to lead the apartment lifestyle and live in apartment housing. That’s more than the entire population of Canada! Apartments are the popular residence of choice in most urban areas such as New York, Los Angeles, and Chicago. Not only are they more affordable than buying a home, but they grant individuals more freedom. A one year lease is way more flexible than a 30-year mortgage or having to put your house up for sale!

The millennial generation in particular is putting off home ownership longer in favor of the flexibility and freedom that apartment living can bring. Would you ever consider moving back into an apartment or condo?