As it has been a full year since the effects of the pandemic were felt by people throughout the nation, we at Zumper wanted to see just how differently renters have been interacting with apartment amenities during their searches for a new home. Comparing search rates from a year ago, we were able to illustrate which amenities renters overall were prioritizing the most during the pandemic, just how much of a premium those desired amenities added onto listing prices, and how generational age groups differed from each other.
Overall Search Rates
Looking at the top amenities, renters really prioritized having outdoor areas in their living situations this year to ride out the pandemic. Six of the top ten amenities with the largest year-over-year search rates were related to having an area to safely get some fresh air. Outdoor Space took the top spot with a +143% growth rate in searches. The other most sought after outdoor related amenities included Roof Deck at +91%, Balcony at +87%, Garden at +86%, Swimming Pool at +78%, and Deck at +73%.
While Parking and In-Unit Laundry have been two of the most desired amenities in general, this fact has only been exacerbated by the pandemic. With slashed interest rates at dealerships and public transportation to be avoided if possible, more people were likely to have bought cars in 2020 and would then need parking spaces. Additionally, bringing clothes to a public laundromat, if they were even open, could be potentially dangerous in terms of exposure so having in-unit laundry has become more important than ever.
An unexpected amenity that made it into the most desired list this year was Storage at #2. This could be a result of companies making working from home more common as many renters upgraded their desk setups and were looking to store old furniture. Additionally, as many renters sheltered in place, they likely had a lot of things they weren’t able to use since they couldn’t leave their homes, like bulky clothes, shoes, and seasonal items like holiday decorations, so having extra storage was highly sought after.
Average Cost Added to Listings
The amenity that added the highest cost to a listing this past year was In-Unit Laundry, averaging $170 more. Meanwhile, Garage Parking followed suit with an added cost of $149. Of the outdoor areas, the amenity that had the highest premium was Garden, adding $144 more on average to a listing. If a renter wanted the best deal for an outdoor area, he or she should opt for a balcony as the average price added to a listing with that amenity was only $35, over 4x less than the added cost of a Garden. Meeting somewhere in the middle, having a Swimming Pool as an outdoor area added $94 to a listing.
Search Rates by Generational Age Groups
While amenities related to Laundry were the common thread throughout these different age groups, there were some stark, and hilarious, differences.
Gen Z
For renters in the Gen Z age group, aside from In-Unit Laundry, the other amenities that had the largest year-over-year search rates were Walk-In Closet, Air Conditioning, and Dishwasher. Gen Z renters seem to really care about closet space, staying cool in their apartments, and have no interest in washing their own dishes. And while all of the other age groups had a parking related amenity as one of their most sought after in 2020, Gen Z renters did not, likely because renters at this age can’t afford a car yet, even with the slashed interest rates.
Millennials
Amusingly, while renters in all of the other age groups had In-Unit Laundry as their #1 amenity, Millennial renters prioritized Walk-in Closets the most this year with this amenity growing nearly 300%. Notably, Walk-in Closets and Dishwasher made it into the most desired amenities in the Gen Z and Millennial age groups only, so it seems people under the age of 40 really hate doing dishes.
Additionally, Hardwood Floors was a top amenity that was exclusive to Millennial renters. Apparently Millennials really prefer hardwood floors over carpets.
Gen X
Some unique top amenities that Gen X renters searched for in their next home were Swimming Pool and Furnished. As many renters in this stage in life are experiencing empty nest syndrome, they are looking to downsize from a multiple bedroom house to a smaller apartment. With the Swimming Pool and Furnished amenities sitting uniquely at the top of the most desired for Gen X renters, this shows that the parents in this age group are finally ready to relax and have some well deserved down time.
Baby Boomers
For Baby Boomer renters, Central Heat was a distinctive amenity that made it to the top for this age group only. As bodies age, keeping warm and well circulated is essential. Additionally, Baby Boomers saw the largest growth rates in searches for In-Unit Laundry. As the effects of COVID are potentially more dangerous in older generations, renters in the Baby Boomer age group should be more careful when going to more public spaces so having laundry in-unit helps keep them safe.
Methodology
To determine the top 10 most desired amenities ranking, we looked at year-over-year (December 2019 and December 2020) search rate growth in Zumper’s search filter amenities. The average added price list was analyzed from a price model that considers the effect of every amenity on price and controls for location and property type. Search rates by generations were determined by slicing the year-over-year search rate data by the following age groups: Gen Z (Age 18-24), Millennials (Age 25-40), Gen X (Age 41-46), and Baby Boomers (Age 57+).
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