Over the past few years, U.S. rental prices have reached historical highs, pricing out millions of renters across the country. After all, with a median rent of $1,006 and insubstantial income growth, it’s safe to say that many renters struggle to afford housing.
Fortunately, national rent prices have begun to slow in appreciation. In fact, according to Zumper’s April rent report, the average rent for a one-bedroom and two-bedroom unit rose only 2.8% and 2.5% year-over year, respectively.
As rental affordability grows, renters will soon have a wider range of options when selecting a property. This means competition amongst property managers will heighten as more renters take to the market.
So, what’s the best way to attract renters? Zumper says it’s simple – amenities.
According to Zumper, these are the top 5 most requested amenities:
1. Air conditioning
2. In-unit laundry
4. On-site laundry
5. Assigned parking