Key Highlights
- Apartment seekers (both buyers and renters) now pickier
- Web sites adding more searchable categories within search filters
Renters in Expensive Cities Have Upper Hand in Landlord – Tenant Dynamic
As people living in expensive cities migrated out to more affordable markets at the onslaught of the COVID pandemic, sales plummeted and vacancies increased. Sellers and landlords in those expensive rental units have responded by cutting their prices, increasing subsidies and adding amenities.
Bottom Line? People who are now beginning to go back to those expensive cities are in the driver’s seat.
New Study by StreetEasy Shows Apartment Seekers Now Pickier
Potential lookers have been feeling their strength. Not only do potential buyers and renters returning to expensive metros such as New York City want lower prices and more subsidies , they also want particular amenities.
Meanwhile, listings sites, both for-sale and for-rent listings, added more searchable amenities to their respective sites…amenities such as central air-conditioning and varieties of views (skyline, water, gardens, etc.) Private outdoor space was also added on top of just shared outdoor space.
StreetEasy examined apartment searches between December 1, 2020 and January 31, 2021 in order to learn what amenities potential buyers and renters want most.
Top 20 Most Popular Amenities in New York City, according to StreetEasy:
- In-unit washer/dryer
- Pets allowed
- Elevator
- Doorman
- Dishwasher
- In-building laundry
- Private outdoor space
- Gym
- Central air-conditioning
- Shared outdoor space
- Garage
- Parking
- Pool
- Furnished
- Fireplace
- City view
- Fios available (fiber-optic high-capacity internet)
- Skyline view
- Loft
- Water view
Last year, the most sought-after amenity was pet availability. Most all other “most wanteds” reflect “extra” at-home time and safety concerns for both people and packages.
Thanks to StreetEasy and The New York Times.
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