What Today's Renters Really Want and How Developers Can Respond to Meet Demand
The multifamily market is undergoing significant change. Rising costs, delayed homeownership, and ongoing remote and hybrid work are reshaping renter expectations and influencing which communities command premium rents.
A new National Renter Demand Index study from RCKRBX, a Washington, D.C.-based multifamily market intelligence platform, offers data-driven insights into these changes. Surveying 2,342 prospective renters nationwide in September, the research shows that current renter priorities often do not align with what developers and owners are providing.
For multifamily investors, developers, and property managers, these findings provide a clear guide for repositioning assets, refining amenity strategies, and adjusting unit mix to better meet renter needs.
How Renters See the Economy – And What It Means for Rent Budgets
One of the most important questions in any renter demand study is how people feel about the overall economy. In the RCKRBX survey, respondents were deeply split:
- 43% said the economy is heading in the right direction.
- 39% said it's on the wrong track.
When responses are broken down by unit type, a more nuanced story emerges. One-bedroom seekers are the most pessimistic:
- 49% of renters looking for one-bedroom apartments said the economy is headed in the wrong direction.
- Only 31% of that group felt optimistic.
By comparison, among two-bedroom renters:
- 44% said the economy is on the wrong track.
- 39% still believe it's moving in the right direction.
While this level of concern might suggest renters would lower their budgets or renew leases, the survey indicates the opposite trend.
Rent Budgets Are Rising Despite Economic Anxiety
According to RCKRBX, recent economic conditions are encouraging a significant share of renters to rethink their next move:
- 46% of respondents plan to increase their rent budgets in their next move.
- Only 20% expect to seek lower rents.
- Just 17% are firmly committed to renewing their current lease.
For multifamily developers and owners, this represents a significant opportunity. Despite economic uncertainty, many renters are willing to pay more for communities that offer space, quality, safety, and lifestyle benefits.
Younger, economically mobile renters are driving this change. They are more willing to explore new neighborhoods and pay premiums for apartments that suit their current lifestyles and work patterns.
Why So Many Renters Are Delaying Homeownership
A central finding of the National Renter Demand Index is that a large share of renters are putting homebuying plans on hold. When asked why they're renting instead of owning, respondents highlighted several key reasons:
- 41% are delaying homeownership because of current economic conditions.
- 30% say they rent due to lifestyle or job requirements.
- 25% don't feel settled enough to buy a home.
- 24% actually prefer renting over owning.
This breakdown reveals two distinct renter segments that multifamily professionals should keep in mind:
- Renters by necessity: Those who would like to own but are held back by affordability, job stability, or economic uncertainty.
- Renters by choice: Those who enjoy the flexibility, convenience, and amenities that come with renting and are not in a rush to buy.
For property managers and leasing teams, tailoring marketing, amenity offerings, and resident experience to both segments is critical. Renters, by necessity, will respond strongly to messaging about value, predictability, and security. In contrast, renters by choice are more likely to pay a premium for design, lifestyle, and community programming that reinforce their decision to rent long term.
Remote and Hybrid Work Are Redefining Apartment Demand
Since the pandemic, remote and hybrid work patterns have permanently changed where and how many renters spend their time. The RCKRBX survey confirms that flexible work is not a passing trend but a structural shift that is reshaping multifamily housing demand.
The study found that 46% of respondents are hybrid or fully remote workers. The breakdown is as follows:
- 54% work fully in-office.
- 25% are hybrid, in the office 3-4 days per week.
- 8% are hybrid, with 1–2 in-office days.
- 13% are fully remote.
There are also meaningful differences by age and region:
- 28% of renters aged 35–44 work hybrid schedules (3–4 days in the office).
- 23% of renters 55 and older are fully remote.
- In Texas and the Southwest, 64% of renters surveyed work full-time in an office.
- The Mid-Atlantic has the highest share of fully remote workers, at 18%.
Flexible Workers Will Pay Premiums for the Right Space
One of the most important takeaways for developers and operators is that hybrid and remote workers are more likely to pay higher rents when their apartments support work-from-home life.
For this group, the apartment is more than just a place to sleep. It functions as:
- A home office or primary workplace
- A productivity zone where layout and comfort really matter
- A flexible live–work environment that needs to adapt throughout the day
Features that appeal to this growing renter segment include:
- Larger floor plans that easily accommodate a dedicated office or workstation
- Thoughtful unit layouts with good natural light, sound separation, and comfortable work areas
- High-speed, reliable internet as a non-negotiable utility
- Onsite coworking spaces, private meeting rooms, and quiet common areas
Forward-thinking multifamily owners are already leaning into next-generation building concepts that blur the line between residential and workspace. Properties that successfully support remote and hybrid work are better positioned to capture rent premiums and higher absorption from this segment of the demand pool.
Safety and Security Are Now Core Renter Priorities
The RCKRBX survey also underscores a powerful post-pandemic reality: safety and security are now as important as rent levels for many prospective renters.
When asked about their top decision-making factors:
- A combined 35% of renters said safety and security were either the most important or second-most important consideration.
- About 34% said rent and other monthly fees were their top concern.
According to the study, safety and security have become the "paramount issue" across markets, often tying with, or even outpacing, rent as the primary deciding factor. This marks a significant shift, introducing both risk and opportunity for multifamily owners and operators.
To stay competitive, communities must:
- Invest in access control systems, secure entry, and smart locks where appropriate
- Improve lighting, visibility, and sightlines throughout the property
- Maintain clear, consistent communication around safety policies and incident response
- Train onsite teams to be proactive about resident well-being and security
Crucially, it's not enough to implement safety measures quietly. Properties that highlight security features in marketing materials, tours, and resident communications can better meet renter expectations and justify higher rents in many markets.
The Unit Mix Mismatch: What's Built vs. What Renters Want
Perhaps the most striking insight from the RCKRBX National Renter Demand Index is the gap between existing unit supply and renters' actual preferences, especially regarding unit size.
The study reveals strong, often underserved demand for larger floor plans, even as many markets remain heavy on smaller units:
- 52% of surveyed renters prefer two-bedroom or junior two-bedroom configurations.
- These layouts represent only 39% of the current unit supply.
- 23% of renters want three-bedroom units.
- Just 8% of existing inventory offers three bedrooms.
- Only 21% are looking for one-bedroom apartments.
- Yet 41% of the unit supply consists of one-bedroom units.
In short, many markets have oversupplied one-bedrooms, while demand is strongest for two- and three-bedroom apartments that offer more flexibility and space.
Looking Ahead: Building for the Next Generation of Renters
The next generation of renters is navigating economic uncertainty, delaying homeownership, and redefining how they use their homes. They expect more space, greater safety, and apartments that double as flexible live-work hubs.
For developers, owners, and managers, the message from the RCKRBX survey is clear: those who realign their strategies with this new renter mindset will be best positioned to outperform in the years ahead.
Communities that succeed will be the ones that:
- Offer larger, more adaptable floor plans that match real-world demand.
- Seamlessly support remote and hybrid work.
- Treat safety and security as fundamental features, not afterthoughts.
- Understand and serve both renters by necessity and renters by choice.
As multifamily markets continue to evolve, using data-driven insights into renter priorities will be critical. The gap between what is being delivered and what renters truly want is still wide, but for those willing to close it, the opportunity to capture long-term value has never been greater.
