Rent is rising and so are RV sales

When rent rises but salaries don’t, will renters look to a different form of housing? Perhaps one on wheels?

RV

May 9, 2023

RV

With rising rent costs, will we see more people moving toward the RV lifestyle?

If you’re a renter, you’d be familiar with the anxiety that arises around the time of lease renewal, wondering ‘will my rent payments increase?!’ Lately rent has been skyrocketing across the board, and Sydney in particular is considered to be in a surging rental crisis. My TikTok feed is filled with renters documenting the experience of taking their landlords to tribunal. And almost all of my friends have received the dreaded email from their real estate agent recently. It’s gotten me thinking, when rent rises but salaries don’t, will renters look to a different form of housing? Perhaps one on wheels?

It turns out that switch is already occurring in southern Arizona where many are opting for RV’s over stationary housing. RV Freedom’s sales manager, James Reffruschinni, attributes the increase in RV sales to inflation, the rising cost of living, and the lack of affordable housing in southern Arizona. Although it’ll still cost you money on an ongoing basis in the form of site rentals, one full-time resident who lives at South Forty RV Ranch said “Most of the parks we’ve found, especially here we do an annual which is about half of what rent would be.”

We’ve seen this happen before

Back in 2022, a news story titled ‘Renters forced to move into caravan parks unable to find houses’ popped up. This story was about Brisbane Holiday Village and the influx of families who flocked after being continuously knocked back from rental applications. Back in 2022, renters were also facing increases Australia-wide. With less property on the market and sky-high rent, it’s not hard to see why people may be wanting to put their hard earned dollars elsewhere.

Is it possible to live in a caravan?

Of course it is. The first time I stayed in a caravan, I was amazed at just how much it emulated a mini home. Far from the roughing I was used to doing in a tent, I now had access to a fridge, toilet, running water, shower, cooking appliances, electricity and a warm bed. What more could I have asked for? Not to mention, the shift workplaces have now made allows a more hybrid lifestyle for employees. What this means is they aren’t physically required in the office, instead meeting digitally via webcam. Digital nomads are on the rise, allowing people to remain employed full-time yet live the nomadic lifestyle that an RV allows.

The market may not be high forever

Keep in mind that although investing in an RV and avoiding the rising costs of rent may work for now, rental costs may not always be so sky high. It may be a good idea to begin by renting an RV. This way you can test the waters and see if you enjoy the lifestyle it allows before purchasing your own.

If you’ve forgone stationary housing for a life on the road we’d love to hear from you. Whether it was in an attempt to save money, or you realised just how much cash remained in your pockets after you made the change, shoot us a message on Facebook or Instagram

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Jess Olson
Jess Olson

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