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US homeowners transition to landlords to retain low mortgage rates
Many US homeowners are choosing to rent out their properties rather than sell them, driven by the desire to retain low mortgage rates, such as 3 percent. This trend is particularly evident among individuals who need to move for work, family size changes, or elder care but wish to avoid losing their existing financing.
Zillow defines these individuals as “accidental landlords,” specifically those whose homes sat on the market for at least two weeks before being listed as rentals within three months. In October 2025, these properties accounted for 2.3 percent of Zillow’s rental listings, a level matching the October 2022 peak.
Geographic data shows Denver leading this trend at 4.9 percent, while seven of the top ten metropolitan areas are located in Texas or Florida. Conversely, tight markets like Providence, Boston, and New York report the lowest shares. While low interest rates are a primary motivator, Fannie Mae’s updated underwriting rules require owners to provide documented market rent and maintain several months of cash reserves to qualify for keeping an old home.
Entities
Denver · Fannie Mae · Griffin Funding · Texas · Zillow
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Homeowners are renting out properties to retain low mortgage rates. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Fannie Mae’s updated rules require documented market rent and cash reserves to keep an old house. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Accidental landlords made up 2.3 percent of Zillow’s rental listings in October 2025. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Seven of the top ten metros for this trend are in Texas or Florida. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Denver leads the accidental landlord trend at 4.9 percent. keyt.com · kioncentralcoast.com · kesq.com