The Top Two Needs of Modern Renters

As the world continues to change in a COVID-19 world, more and more renters are choosing how they move and choose their next place to live in. With changes in moving come new trends in what renters are looking for. According to a recent study conducted by the National Multifamily Housing Council (NMHC) and Grace Hill 2022 Renter Preferences Survey report, twenty-five percent of renters moved in the past eighteen months, and seventy percent predict to be teleworking the same amount or more moving forward.

The recent survey also discovered the top two needs of modern renters as they continue to move:

• Flexibility: Twenty-five percent of those who said they moved over the past eighteen months also stated the reason for their move was shifting to remote work during the pandemic. The work from home option has given renters the opportunity to have more freedoms in choosing where to live without having to worry about a work commute. Renters have flexibility in being able to move whenever they want and even work out of their company’s state or country
• Connectivity: Eighty-two percent of respondents stated that they are streaming video daily, while seventy-three respondents said they stream music daily. With the increasing demand for streaming services and requirement of high-speed internet to work from anywhere, renters are looking for places that meet these needs. Renters no longer want slow internet speeds or having to work outside their homes daily if they don’t have to. Connectivity allows renters to continue to have their work tasks completely from any location while also having the option to use entertainment such as streaming to accompany their needs.