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The next time your renters come into the leasing office asking why their renewals are so high, remind them that renewing is usually a much better deal than moving to a new apartment. According to a Zillow analysis of 2015 rent data from the U.S. Census American Community Survey, those who moved in the past year paid an average of $3,946 more in 2015 on rent than renters who stayed in the same unit for the past five or more years. The annual market rate increase in rent from 2014 to 2015 was 5.6 percent, compared to a 3.6 percent increase for renewed leases. “Renters have a decision to make almost every year – do they stay in the same place, or should they look for a new unit?" said Zillow Chief Economist Dr. Svenja Gudell in a press release. “With the country in the middle of an affordability crisis, it is important for renters to understand how much they can save if they renew their lease instead of finding a new rental. 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.” In Boston, it paid off for renters to stay in the same place instead of moving. Boston renters saved up to 86 percent by living in the same rental for five or more years, which translated to $8,979 in annual rent payments. They also faced the biggest difference between annual market rate rent increases – 10.5 percent – and rent increases for renewing – 4.3 percent. By: Les Shaver Via Naahq.org