The 4 Compromises Renters Make Most
Finding an apartment that matches your budget and includes all the amenities and features you want in a home can sometimes be tough to do. The reality is that most people will need to compromise on something along the way in their rental search – according to an Apartment Guide survey, 67 percent of renters say they feel they have to sacrifice wants in order to keep things within their budget.
Though many people do have to make choices between various factors when searching for a rental, one-third of renters did say they were able to find a place that had most everything they wanted in a home such as location, price point, property type and property features or amenities.
Compromises renters make
Renters face a variety of choices as they're searching for a home. Location and housing type are two items renters didn't compromise on often when searching for a home.
1. Housing type
Only 12 percent of those surveyed indicated they compromised on housing type, so it's not a compromise many renters make. Narrowing down the housing type will also help you hone in on your search, as having too many variables can make it hard to compare options.
Only 14 percent of renters surveyed said they compromised on the location of their rental home. This isn't surprising since over half of those surveyed (54 percent) also said that location matters to them more than the actual unit itself.
A few more people compromised on price than housing type and location, but still less than one-third of all U.S. renters. Only 20 percent of those surveyed said they compromised on price but were able to get the location, property type and features or amenities they wanted.
When asked about it, 21 percent of those surveyed said they were able to find a place in the location they wanted in their price range yet had to give up some of the amenities and features they were looking for in a rental. Gated community access, hardwood floors and a rooftop terrace are some of the most popular amenities renters mentioned wanting.
Finding the right rental for you
How can you make sure you only compromise when you really need to do so? Do your research online and visit as many apartments as possible. You don't want to make a snap decision or overlook something important to you.
The data referenced in this article include the results of surveys conducted by RentPath between 2017 and 2018:
- An online, blind survey of 2,000 renters was conducted by Egg Strategy in conjunction with RentPath in 2017, with the final analysis completed in February 2018.
- A blind online survey conducted by RentPath Research from October 8 – 10, 2018 of 1,044 consumers who have searched online for a place to rent as their primary residence. The national sample was sized proportionally by gender, age and ethnicity to align with the U.S. Census.
- An online, blind survey of 750 renters conducted by RentPath Research between November 10 – December 4, 2017.