The Renter Profile Insights SurveyA Look at Today’s Renter

Renter Profile Insights Report 1

To help better understand renter demographics, search behaviors, and

desires, ForRent.com and Homes.com conducted a survey to identify these

characteristics. Discover the insights uncovered, including technology usage,

surprising numbers of property visits, desired rental types, sought-after

amenities, and much more.

What does the profile of a renter look like? The primary demographic is female, over 50 years of age, and single. Males make up only 20% of the profile of a renter. While the highest age percentage is over 50, the next largest group belongs to the millennials, ages 18-24. Second to 45% of renters being single, 22% of renters are married with no children.

22%of renters

are married with

no children

45%of renters are single 50+

18-24Largest groups by age

20%Males make up

of the renter profile

If you’re wondering what the average renter’s education and career types are, the survey results exposed those as well. When considering highest education level achieved, the largest group of renters, 35%, have attended high school. Next, a bachelors degree has been earned by 24% of renters. Most renters earn their living in a corporate career field, retail, or as a caretaker.

35% attended high school

24% have a bachelors degree

“Most renters earn their living in a corporate career field, retail, or as a caretaker.”

While pets are enjoyed by many renters, 57% do not own them. Not to be ignored, the remaining still make up a significant percentage that are renting with their four-legged companions.

Renter Profile Insights Report 2

Over 80% of renters stated that they used their desktop or laptop computer all the time or often during their last apartment search. Smartphones were also used often or exclusively over 50% of the time, and 20% used their tablets to accomplish their search.

Since renters are equipped with various technology types to assist with finding the perfect rental, it’s interesting to note exactly what they’re looking for during the process. Apartments are the most common rental type desired, while single-family homes and townhouses are popular choices as well.

*View Methodology Section

of renters are searching for an apartment over other rental types*

53%

Searching for rentals can be a long process to ensure the perfect place has been found. After beginning the hunt, 44% of renters searched 2-5 months before deciding to move. Nearly 30% renters took a month to make the decision, and 15% of renters took over 6 months before finally deciding it was the right move. In addition to all that time spent hunting and deciding, renters are also visiting multiple properties. While most renters are touring 1-3 places, a surprising 12% of rental seekers are visiting 10 or more properties before choosing their special place--proving that physically seeing the property is important to many renters.

1-3Visits

47%

4-6Visits

33%

7-9Visits

9%

10+Visits

12%

Property Visits

“It was interesting to see that, in addition to the lengthy time spent hunting for a rental, renters are visiting an extremely high number of properties before they come to a final decision. 12% are visiting 10 or more properties, which proves to customers how important physical visits are to the rental process.”

-Terry Slattery, President, For Rent Media Solutions and Homes.com

Moving on from the general profile, the

survey uncovered social media outlets

used by renters. A large majority of

those surveyed stated Facebook usage,

while Google+ was the second largest

social outlet used.

80%

31%

28%

22%

11%

Facebook

Google +

Pinterest Instagram Linkedin

Twitter

None

Renter Profile Insights Report 3

Amenities are important to many individuals and often an added bonus when choosing where to rent. Commonly desired apartment amenities include washer/dryer in unit or hookups, air conditioning, furnished options, and patios or balconies. Renters looking for apartments also seek hardwood floors, dishwashers, and walk-in closets. However, in addition to apartment specifics, renters are looking for certain features in their community. A garage, pool, fitness center, short-term lease options, nearby public transportation, and controlled access are frequent requests from renters.

While amenities are important and often play a significant role in rental decisions, neighborhood aspects are critical as well. Over 50% of renters feel that proximity to work or school is the most important condition of a neighborhood. Being near public transportation and entertainment are popular as well. Many renters stated that proximity to family and safety are aspects they also consider when making a neighborhood decision.

“Over 50% of renters feel that proximity to work or school is the most important condition of a neighborhood.”

“These days, renters are equipped with all types of technological advances with which to find their dream home. With all the options out there, it helps real estate professionals to know exactly what they are looking for throughout their rental search, and how they are looking.”

-Brock MacLean, Executive Vice President, For Rent Media Solutions and Homes.com

But what are they willing to pay more for? Covered parking is an amenity that 25% of renters may be willing to pay extra to receive. Several renters also stated that they would pay more to get a customized unit.

1 in 4 people are willing to pay more for assigned parking.

Renter Profile Insights Report 4

About Homes.comAs one of the nation’s top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process.

About ForRent.comAs one of the nation’s leading online home search destinations, ForRent.com® inspires renters to discover their next apartment, loft, townhouse, or condo. ForRent.com features rental listings in a user-friendly format, making finding your next home an easy exploration. Visitors to the ForRent.com blog will discover relevant information and can join the conversation surrounding home decorating style, apartment hunting tips and more. ForRent.com serves as the complete resource for renters in every part of their living experience.

Browse renter resources from ForRent.com & Homes.com

Top 10 Tips to Save Money in Your Home

Top 10 Cities for New Grads

Top 10 Tips Every Renter Should Know

http://bit.ly/TopTenTipstoSave http://bit.ly/TopTenCitiesforGrads http://bit.ly/TopTenTipsforRenters

Methodology The renter profile survey was an online survey conducted during April and May 2014 through email, website advertisement, social media outlets, ForRent.com and Homes.com. A $250 gift card incentive was used to encourage participation. Approximately 2,200 of respondents were renters.

A similar survey was conducted in July 2013, which asked renters about their home search process. Through similar promotion, this survey garnered approximately 3,600 responses of which were renters.