Many renters want more from their apartments. Nearly 40% of more than 3,000 American renters said they’d be willing to pay up to $100 more for new apartment amenities. Men are willing to pay more—$200 or more—for new amenities, according to a new survey from Apartment Guide.
That’s because more than one-third of overall respondents said they aren’t happy with their apartment’s current amenities, according to the study.
To make them happier, property owners may want to add more storage space—or show off more of the space they offer.
The top amenities respondents wish they had in their apartments:
- More storage space: 31%
- A dishwasher: 16%
- Fast, reliable Wi-Fi: 16%
- Parking: 15%
- Central heating and air conditioning: 11%
- In-unit washer and dryer: 11%
A fast internet connection was particularly important to Gen Z and millennial respondents. They were 40% more likely to prioritize this amenity in an apartment than older generations. More renters are looking for it before they sign a lease, too. A 2020 study from the Kingsley Associates found that 47% of renters are checking mobile phone connectivity during apartment tours. As remote work grows, the issue of faster connections could become even more critical in attracting greater apartment leases.
In-unit washers and dryers are getting more importance in value from renters since the pandemic, too. Nearly 23% of renters who already have one said their in-unit washer and dryer was the most important amenity to them. In New York, Los Angeles, and Chicago, renters paid an average premium of $62 per month for in-unit laundry facilities, according to the study.
Source: “Over One-Third of Americans Aren’t Satisfied With Their Apartment Amenities,” Apartment Guide (March 1, 2021)
