NMHC Survey Shows Amenities Increasingly Important

From Multifamily Executive:

To better crack the code on what apartment renters want, the National Multi Housing Council (NMHC) and Kingsley Associates have partnered on one of the largest surveys of apartment resident preferences. The survey was sent to 200,000 residents across the country, and responses were collected from renters in 38 states, covering 84 MSAs and a wide variety of property classes and building types and sizes…

One of the clearest takeaways from the survey results was that the right level and mix of community amenities has become a much more important factor when renting an apartment…

In fact, respondents cited amenities as one of the top three reasons they decided to rent versus own, after location and lack of a down payment. More interesting is that, compared with previous surveys, a larger percentage of respondents in 2013 pointed to community amenities as a top factor, while a smaller percentage indicated the lack of a down payment as such…

Moreover, amenities are even more important for people looking to rent in higher-end communities. More than 75 percent of respondents at Class A properties cited community amenities as a high priority, compared with 58.8 percent in Class B properties and 49.2 percent at Class C properties.