More Indians are choosing to rent instead of buying homes. According to the NoBroker Rent Report 2026, 46% of urban tenants have indicated a preference for long-term renting over buying. Among millennials aged 25-34 years, the number climbs to a robust 53%. When comparing rents with EMIs, in Bengaluru, a mortgage means paying a staggering 2.38 times more than renting the same property, while in Gurugram, the EMI is 2.68 times the rent. For millennials and Gen Z across the metro cities, renting provides financial independence (their security deposit notwithstanding), since job growth often means frequent transfers.
With the proclivity to rent comes the adjacent rental furniture market, which is growing in tandem. A Grand View Research report on the Indian furniture rental market (2022-2030) states that this sector is set to reach ₹66,906.16 crore by 2030, growing at a compound annual growth rate (CAGR) of 9.4%. In terms of segments, beds are the highest revenue-generating products, while wardrobes and dressers have registered the fastest growth during the forecast period.
As per a Redseer industry report on the home furniture and appliances rental market in India, rapid urbanisation, first-time earners, increased intra- and inter-State migration, and declining average tenancy are driving frequent household setup and upgrade cycles. The report specifies, “In parallel, improving digital access and exposure to modern retail formats are elevating consumer expectations around convenience, quality and speed and setting a foundation for new models such as rental to emerge.”
The report cites a noticeable shift in the consumer mindset towards commitment-light lifestyles. This also bolsters the rental model during periods of macroeconomic slowdown, as consumers shift from purchasing products to renting them due to income insecurity. This, in turn, boosts subscription-led furniture models.
In India, two major players currently lead this market nationwide. Founded in 2014, Bengaluru-based Rentomojo serves 2,27,000 subscribers across 22 cities, with over 7,28,000 active rental items (as of September 2025). It offers subscription-based rentals of furniture, kitchen and fitness appliances, electronics, air and water purifiers, and room-wise furniture bundles, with free relocation and repairs. Its limitless model offers a single monthly payment that covers all appliances and furniture, with free swap allowances.
Furlenco, headquartered in Bengaluru and operating across 33 cities, offers flexible models that allow customers to rent individual pieces of furniture and/or appliances, as well as furniture bundles for rooms. Its UNLMTD by Furlenco plan offers all furniture and appliances at one price. Customers can choose to upgrade pieces at no extra cost or even buy them later through its store.
We speak to Geetansh Bamania, CMD and CEO of Rentomojo, about the changing consumer attitudes towards the rental furniture market in the country, and the challenges that lie ahead. Excerpts from the interview:
How has the furniture-rental market grown post-pandemic?
According to Redseer, India’s home furniture and appliances rental market expanded from approximately ₹350 crore in 2021 to approximately ₹1,550 crore in 2025 — a CAGR of around 45%. This growth reflects a broader change in how urban consumers think about furnishing their homes. Mobility, high upfront purchase costs and the need for greater flexibility are making subscription-based consumption increasingly relevant. At the same time, rental penetration remains relatively low, approximately 1% for key furniture products and 1.4% for key appliances in 2025, so we believe the category is still at an early stage of adoption.
Which segment is seeing the most traction in terms of frequent makeovers or changes — whole homes or individual rooms?
We see demand for both. Complete home packages are especially relevant when customers relocate or move into a new home, while individual products and room-level requirements allow customers to add, replace or upgrade their setup progressively. The customer journey often deepens over time. As of March 31, 2026, we had an average of 2.83 items per subscriber, and 50.41% of orders [FY2026] came from customers who had placed more than one order with us historically.
This indicates that customers do not necessarily view furnishing as a one-time decision. They may begin with an immediate requirement — a bed, refrigerator or washing machine — and subsequently add products as their home, lifestyle or family requirements evolve.
Which cities prefer the rental/subscription model the most and the least?
Adoption tends to be strongest in cities with high residential mobility, a large population of renters and young professionals, and frequent movement for employment and education.
The larger metros currently provide deeper and more established demand, while several emerging cities are beginning to demonstrate strong potential. Our established metropolitan markets — Bengaluru, Mumbai and Hyderabad — continue to be important contributors. We are seeing encouraging adoption in emerging cities as flexible living becomes relevant beyond the metros. Our revenue from Indore and Lucknow increased 6.91 times and 6.98 times, respectively, between FY2025 and FY2026, albeit from relatively newer and smaller bases.
Is the ‘rent-to-own’ model seeing significant growth, or does a pure rental subscription model hold more value for consumers?
Rent-to-own is relevant when the customer’s eventual objective is ownership. A subscription model is more relevant when the customer values lower upfront expenditure and freedom from the responsibilities associated with maintenance, relocation, depreciation and resale. Our customers can rent products and subsequently return, upgrade or relocate them as their requirements change, while we manage delivery, installation, maintenance and pickup.
Our subscription-revenue accounts for 97.90% of our revenue from operations [FY2026]. We believe this flexibility is particularly valuable for today’s urban consumer, whose city, home, career and family requirements may change much faster than the useful life of the products they would otherwise purchase.
Rental Market Trends Worldwide
India is the fastest growing regional market in Asia Pacific (projected market of ₹66,906.16 crores by 2030)
India accounted for 6.6% of the global furniture rental market in 2022
U.S.A. is expected to lead the global market in terms of revenue in 2030
In Asia Pacific, China’s furniture rental market is projected to lead the regional market in terms of revenue in 2030
Source: Grandview Research
The freelance writer is based in Chennai.