[Survey] One Year of Pandemic Shift

In March 2020, right after the first lockdowns, RENTCafé asked renters about their moving plans. Despite the overall optimism, “safety” was their main concern and “price” the top preference. But one year of pandemic has impacted renters’ choices significantly. According to their latest survey of 10,000 rentcafe.com visitors “more space” beats “cheaper”, as people now look for better deals with open-air amenities and more living space – preferably in the city they already live in.

Highlights about how the pandemic affected the apartment selection process:

• Lifestyle improvement is the main motivator for those looking to rent after one year of pandemic. 41% of renters picked “open-air amenities” and “more space” as their most essential apartment features in 2021, outranking by far WFH amenities such as “home office” (5%) or “good internet connection” (10%).
• The reasons for moving are within the same spectrum: “looking for better deals” was the top answer for 29% of renters, followed by “the need for a change of scenery” (25%).
• When asked how the pandemic affected their apartment selection process, 28% of renters said they prefer a place to live by themselves. “Something cheaper” (25%) and “something larger” (19%) were next on the priority list.
• 90% of renters look for long-term rentals. Moreover, 48% wish to remain in the same city they currently live in, which once again shows that improving housing conditions is the goal, not necessarily a drastic change like moving to a different city.
• Many of those who moved in the spring of 2020 seemed to have done so out of need, not because they wanted to. “Expiring lease” was the main reason for moving (26%), while a significant share of renters was concerned whether they’d be “able to pay rent during this time” (32%).

Additional Highlights

21% of respondents said open-air amenities (balcony, patio,etc.) were an important apartment feature during the pandemic

29% of respondents said the opportunity to get a better deal was the top reason for moving

Only 7% of respondents cited their destination for moving was to be in an area closer to nature

Methodology

RENTCafé is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. The data is based on a survey among 10,699 respondents in the U.S., that ran between February 17 and 22 2021 on www.rentcafe.com.

You can read the full report here: https://www.rentcafe.com/blog/rental-market/real-estate-news/one-year-later-pandemic-shifts-renters-priorities-as-more-space-beats-cheaper-survey-shows/