Renters are Looking for Perks Like Pet Areas and Happy Hours Over Gyms and Pools
According to a Zillow analysis of nearly 5.6 million rental listings, renters are increasingly interested in amenities such as turfed pet areas, coworking spaces, and community happy hours, rather than conventional features like fitness centers, pools, or business centers. This shift indicates a prioritization of practical amenities and community engagement over traditional luxury offerings.
The analysis reveals that certain amenities significantly increase the likelihood of a rental listing being saved or shared on Zillow Rentals, which are indicators of demand. Listings with off-street parking and in-unit laundry are particularly popular, with off-street parking increasing saves by 85% and shares by 103%, while in-unit laundry boosts saves by 76% and shares by 92%. These essentials are often the first considerations for renters, but once they are met, renters look for additional perks.
Among the new perks, pet-friendly patches of turf can increase daily saves by 76% and shares by 91%. Air filtration systems, which gained popularity during the pandemic and are increasingly important due to wildfire smoke, can enhance a rental's appeal by 72% more saves and 79% more shares. Community happy hours also contribute to a 50% increase in saves and a 67% increase in shares.
Interestingly, traditional business centers are less appealing, resulting in 24% fewer saves and 27% fewer shares. In contrast, coworking spaces are more desirable, leading to 16% more saves and 23% more shares. This indicates a preference for flexible and modern workspaces over conventional business centers.
While practical and community-focused amenities are gaining traction, certain "wow-factor" features still drive engagement. For instance, bowling alleys can lead to 30% more saves and 37% more shares, while putting greens result in 25% more saves and 40% more shares. Additionally, modern farmhouse features like butcher block countertops and barn doors contribute to over 55% more saves and about 70% more shares compared to similar homes.
The methodology of the analysis involved examining listing data from nearly 5.6 million homes listed for rent between June 2023 and May 2024. The study used multiple regression to compare home views, saves, and shares during their active listing period against various factors, including home type, region, listing month, rent price, and the presence or absence of 226 features mentioned in the listing descriptions.
