With a (possibly) softening rental market, we thought it might be time to consider what renters are looking for — apart from affordability (still, unfortunately, in short supply). A new study from Apartment Guide says the number-one thing renters are still looking for is location — and price.
But beyond affordability and geography, the study found that 31 percent of Americans in the market for a rental seek specific amenities. Mainly, renters are looking for security, convenience and technology — features like gated communities, shuttles, and smart apps are high on the list. Design elements like hardwood floors and terraces — private or shared on the roof — were also among the most sought-after features. Some things that might have been considered amenities in the past are now considered necessities, including air conditioning, dishwashers, garbage disposal, and laundry.
Researchers also examined the additional costs associated with each amenity. A swimming pool will likely add about $34.22 to your monthly cost, and secure parking will add $33.56. The premium for a nonsmoking building is a bargain at $31.29, and fitness centers are ubiquitous enough to add only $31.75.