Renters are rethinking what they want and need in a home. They’re looking beyond buildings with traditional rental amenities in favor of those with features and services that better suit their lifestyle and budget. New research from Zillow finds listings with a turfed pet area, coworking space or community happy hours are drawing more interest than listings with typical luxury amenities like a fitness center, pool and business center.
A new Zillow analysis of nearly 5.6 million rental listings, including apartment buildings and single-family houses, finds certain amenities contribute to more saves and shares per day when a home is listed on Zillow Rentals, the No. 1 most visited rental network. These metrics are a signal of demand, as renters who save a listing or share it with their shopping partner are more serious about a home. The higher the demand, the faster a unit or a house is likely to rent.
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It’s no surprise that the most in-demand amenities are off-street parking and in-unit laundry. Listings that mention off-street parking get 85% more saves and 103% more shares per day on Zillow Rentals. In-unit laundry helps a listing get 76% more daily saves and 92% more daily shares compared to similar units.
The newest perks
Once those essentials are checked off, renters are looking for new perks. A pet-friendly patch of turf can boost daily saves by 76% and daily shares by 91% on Zillow Rentals. After all, previous Zillow research finds nearly three in five renters have a pet. Air filtration, popularized during the pandemic and increasingly important as more areas feel the impact of wildfire smoke, can help a rental get 72% more saves and 79% more shares per day. Communities that offer happy hours for tenants get 50% more daily saves and 67% more daily shares.
On the flip side, buildings with the usual suite of luxury amenities might have to work harder to compete. Rentals that advertise a fitness center now get 26% fewer saves and 31% fewer shares per day compared to similar listings on Zillow Rentals. Pools contribute to 10% fewer daily saves and 13% fewer daily shares. Rentals with a business center get 24% fewer saves and 27% fewer shares per day on Zillow Rentals. Instead, renters are more interested in coworking spaces, which get 16% more saves and 23% more shares.
Wow-factor features are still fueling engagement on Zillow Rentals, but today those amenities look different. Bowling alleys can contribute to 30% more saves and 37% more shares per day, and a putting green drives 25% more daily saves and 40% more daily shares. Modern farmhouse features like butcher block countertops and barn doors contribute to more than 55% additional saves (58% and 56% respectively) and about 70% more shares per day (69% and 72% respectively) compared to similar homes on Zillow Rentals.