With the absorption of new apartments in the DC area still at high levels, the amenities offered at new buildings is an ever-more important determinant of where people will decide to rent. A new study from Apartment List delves into what renters want and whether the market is supplying those amenities.
The report concludes that, in the DC area, more amenities are offered than the market demands, and renters aren't necessarily getting the amenities they want. Some examples are below:
- Only one in four prospective renters in DC wants a balcony; 47 percent of properties offer units with balconies.
- Out of the 25 largest metro areas nationwide, the DC region has the lowest share of renters demanding a gym as an apartment amenity.
- Forty-one percent of apartment communities are dog-friendly, while only 19 percent of renters are looking for dog-friendly buildings.
- Parking and pool access are offered relatively at the same rate of demand, with 43 percent of renters searching for units with parking and 48 percent of listings offering, and 17 percent of renters looking for a building with a pool and 16 percent of listings offering.
One narrative remains constant throughout the country: people want in-unit washer/dryers and are not getting them. In the District, 65 percent of renters want an apartment with a washer/dryer, yet only 26 percent of properties offer this. The DC area fares just slightly better, with 67 percent of renters demanding in-unit washer/dryers and 35 percent of properties offering.
The data for the report is culled from Apartment List listings and preferences stated on users' registration surveys from June-December 2017, with a minimum sample of 500 users and 500 listings required.
This article originally published at http://dc.urbanturf.com/articles/blog/dc-apartments-are-amenity-rich-but-you-still-have-to-leave-to-do-laundry/14167
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