Two-Thirds of Renters Satisfied with Current Housing

Posted By: Miranda Crittenden Industry News,

Renters want flexibility, while resident experience drivers differ by generation. According to a study from RealPage and The Center for Generational Kinetics, 66% of renters are satisfied with their current housing, while 51% of Gen Z renters said renting is a better option than purchasing.

“The research tells us that most apartment renters are happy being apartment renters,” said Jay Parsons, Chief Economist with RealPage, in a release. “Older renters say they’re renting because it frees them up from home maintenance and other responsibilities. Younger renters are renting because it gives them more flexibility. And renters of all ages tell us that apartments provide an entry into preferred neighborhoods where they couldn’t afford to buy.”

Gen X respondents are looking to avoid costs associated with home maintenance and property taxes, but Gen Z residents want the flexibility renting provides. When searching for apartments, Gen Z tends to focus on crime history, while Gen Z researched pet policies and lease agreement terms.

Gen Z renters (56%) will also pay higher rents for green and sustainable communities, and just over half of respondents said they would likely pay for electric doorbells and cameras.

Article from: