Millennial and Gen Z Renters Hit Hard by Inflation

Millennials who signed a new lease for a rental property saw their overall costs of good and services rise 11.6% year over year, while Generation Z renters saw theirs rise 11.3%, both noticeably higher than the average for the U.S. consumer of 8.5%.

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Rent Prices Shift as 2020 Winds Down

“These numbers reflect an emphasis on either studio or two-bedroom units in bigger cities and potentially more interest in smaller cities overall,” said Kelli Francis, senior content strategist for Apartment Guide. “We believe it’s possible that single renters in big cities may be looking to downsize or take on roommates, and that more people may be considering life outside of big cities.”

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What amenities renters are looking for?

Beyond the location and cost, what features do renters want the most? Zumper recently released a list of the top ten amenities renters want for when searching for a new place. The top wish? Air conditioning, according to searches. 

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The pros and cons of being a landlord

According to 88.3% of landlords, they find renting their properties at least somewhat stressful, according to a recent porch.com report. However, 80.1% said the income from being a landlord is worth it.

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Signs to look for when renting a flipped property

“Some flipped properties are done very quickly, and in the process, hazardous shortcuts might have been taken,” said Linzi Martin from Rent.com. . “It’s important to know what to look out for when renting a flipped property so you can ensure you’re getting a property that’s been cared for rather than neglected.”

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