What Amenities Do Renters Most Desire?
December 2, 2015
Renters are fairly practical when it comes to what they most desire in their apartments. Among a variety of options, they rate high-speed Internet access as their most important amenity.
A Diffuse Demographic
A new survey from the National Multifamily Housing Council and Kingsley Associates reveals the amenities that renters want most and are willing to pay for. The survey is based on responses from nearly 120,000 apartment dwellers.
“Magnificent clubhouses and media rooms may look great on tours, for both prospective residents and equity investors, but they often don't get used as much as you'd think,” says Jay Denton, senior vice president for research and analytics for apartment data firm Axiometrics.
Instead, here are renters' most-desired amenities:
- Fast Internet access
- Walk-in closets
- Soundproof walls
- Private outdoor spaces, such as patios or a balcony
- Washer/dryer in unit
- Refrigerator water/ice dispenser
Still, four out of five residents also said they were interested in pools as an amenity in their building, and they are willing to pay extra to have one, too. “It's all about an extra place to hang out with your friends,” says Denton. “I’ve seen more cabanas and other gathering spots near the pool so that it has some functionality during the winter.”
What’s more, location is another important element for renters. More than half of residents surveyed say they prefer to live within walking distance of a grocery store or a neighborhood restaurant. “Being near shopping, retail, and restaurants is a huge amenity,” says Denton.
Source: “Apartment Renter Preferences Revealed,” National Real Estate Investor (Dec. 1, 2015)
Updated: June 17, 2019