Since it’s been a full year since the effects of the pandemic rippled across the country, at Zumper we wanted to see how tenants interacted differently with apartment amenities when searching for a new home. By comparing search rates from a year ago, we were able to illustrate which amenities tenants overall placed the highest priority during the pandemic, how much these desired amenities were added to listing prices, and how the age groups of the generations differed from each other.
Overall search rates
Looking at the best amenities, tenants really prioritized outdoor spaces in their living conditions this year to overcome the pandemic. Six of the top ten amenities with the highest year-over-year search rates were related to having a safe area to breathe. Outdoor Space took the first place with a growth rate of + 143% of searches. Other most popular outdoor-related amenities included the + 91% roof terrace, + 87% balcony, + 86% garden, + 78% swimming pool, and + 73% terrace.
While on-unit parking and laundry facilities were two of the most popular amenities in general, this fact has only been exacerbated by the pandemic. With reduced interest rates at dealerships and public transportation to be avoided if possible, more people would likely have bought cars in 2020 and need parking spaces then. Additionally, bringing clothes to a public laundromat, if they were even opened, could be potentially hazardous in terms of exposure, so having laundry in the unit has become more important than ever.
One unexpected piece of equipment that made it the most wanted list this year was Storage # 2. This could be because businesses have made working from home more common as many tenants have upgraded their office setup. and were looking to store old furniture. Also, as many tenants took shelter in place, they likely had a lot of things that they couldn’t use because they couldn’t leave their homes, like bulky clothes, shoes, and seasonal items like wedding decorations. vacation, so having extra storage space was in high demand.
Average cost added to ads
The layout that added the most cost to an ad this year was in-unit laundry, averaging $ 170 more. Meanwhile, Garage Parking has followed suit with an additional cost of $ 149. Among outdoor spaces, the equipment with the highest premium was Garden, adding $ 144 more on average to an ad. If a tenant wanted the best deal for an outdoor space, they should go for a balcony because the average price added to an ad with this convenience was only $ 35, which is more than 4 times less than the additional cost of a garden. Meeting somewhere in the middle, having a pool as your outdoor space added $ 94 to a list.
Search rate by generational age group
While laundry amenities were the common thread across these different age groups, there were some stark and hilarious differences.
For renters in the Gen Z age group, aside from in-unit laundry, the other amenities that had the highest search rates year over year were Dressing room, air conditioning and dishwasher. Gen Z renters seem to really care about closet space, stay cool in their apartments, and have no interest in washing their own dishes. And while all other age groups have some of the most sought-after parking convenience in 2020, Gen Z renters haven’t, likely because renters this age can’t afford it yet. a car, even with the reduced interest rates.
Funnily enough, while renters in all other age groups had in-unit laundry as their # 1 equipment, millennials made it a priority Walk-in closets the most this year with this convenience growing by almost 300%. Notably, walk-in closets and the dishwasher have made them the most sought-after amenities in Gen Z and Millennials-only age groups, so it seems people under 40 really hate washing dishes.
Additionally, Hardwood floors was premium equipment that was exclusive to Millennial renters. Apparently, millennials really prefer hardwood floors to rugs.
Some unique amenities that Gen X renters were looking for in their next home were Swimming pool and furnished. As many tenants at this stage of life suffer from empty nest syndrome, they are looking to move from a multi-bedroom house to a smaller apartment. With the pool and furnished amenities on top of the most sought after by Gen X renters, it shows that parents in this age group are finally ready to relax and have some much-needed downtime.
For Baby Boomer tenants, Central heating was a distinctive piece of equipment that reached the top for this age group only. As the body ages, it is essential to stay warm and well circulated. In addition, baby boomers have recorded the highest growth rates in research for Laundry room in unit. As the effects of COVID are potentially more dangerous in older generations, tenants in the Baby Boomer age group should be more careful when moving to more public spaces, so have laundry in the unit as soon as possible. helps to stay safe.
To determine the ranking of the 10 Most Wanted Equipment, we looked at the year-over-year search rate growth (December 2019 and December 2020) in Zumper’s Search Filter Equipment. The average added price list was analyzed from a pricing model that takes into account the effect of each equipment on the price and controls for location and type of property. Generation search rates were determined by breaking down search rate data from year to year into the following age groups: Generation Z (18 to 24 years old), Generation Y (25 to 40 years old) ), Generation X (41 to 46 years old) and Baby Boomers (57 years old and over).
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