Compromise works its way into the budget for most consumers and it applies to prospective residents who are searching for their next home.
According to a survey by Apartment Guide, 67 percent of renters say they make sacrifices to find the place they want to live.
One-third of residents 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.
Location and housing type rated among the lowest 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 the housing type can help prospective residents with their search, because 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 because more than 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 it still measured at 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, 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 property. Gated community access, hardwood floors and a rooftop terrace are some of the most popular amenities renters mentioned wanting.
Data referenced 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.
- An online, blind survey conducted by RentPath Research from Oct. 8 to Oct. 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 from Nov. 10 to Dec. 4, 2017.