Ms. Reynolds, the executive director of a nonprofit that provides resources like office access and mentoring to entrepreneurs, rents both her downtown apartment and her co-working space. She regularly swaps out high-end clothing and accessories through a subscription to Rent the Runway. She also pays a monthly fee to a furniture start-up called Fernish for a rental bed and floor lamp, as well as a borrowed coffee table and sofa.

It’s easy and flexible to live this way, Ms. Reynolds said. The co-working space removes the administrative annoyances of running an office. She feels like she’s getting a deal on trendy furniture and clothing without being stuck with any of it. And she likes that she could pick up and move if she wanted, no moving trucks required.

The point of ownership, Ms. Reynolds said, is not to own at all, but rather “to experience the thing.”

The Renters

It’s fitting that these options are resonating with a set of young, college-educated professionals roughly a decade after the Great Recession, which continues to shape notions of prosperity in the United States. Homeownership remains around a three-decade low for Americans in their 20s and 30s. That’s particularly evident in cities, where many can’t afford to buy. Yet some actually prefer the flexibility of renting as they explore jobs, neighborhoods and relationships.

The items that are being offered for temporary ownership to this cohort are a far cry from the Rent-A-Centers of the world, which target cash-strapped consumers who often lack access to credit. Fernish, for example, is geared toward young people whose design sense comes straight from Instagram, Pinterest and West Elm’s catalog. The company, founded in 2017, trades in imitation Eames shell chairs, midcentury-style wooden dressers and Art Deco-inspired bar carts, offering brands like Crate & Barrel and more boutique names like Campaign.