Photo: Robert Clark
In-unit laundry topped the list of most sought after amenities by New York City renters, but it is also the most undersupplied.
And since New York City is one of the most expensive metros in the country, New Yorkers are far more willing to take what they can get, sacrificing amenities in order to maintain some semblance of affordability.
That’s according to a newly released report by the listing site ApartmentList.
Nearly 40 percent of renters in New York City want an apartment with in-unit washers and dryers, but only 10 percent of rental properties offer it.
Rounding out the top three most desired and under-supplied amenities for New York City renters was parking (33 percent) and a dishwasher (26 percent).
ApartmentList categorized New York City as an “amenity-rich” metro. Compared to other metros in the study, New Yorkers have an above average chance of finding all the amenities they want and end up with “extra” ones that they don’t want.
While extra amenities may not sound like such a bad thing, the catch is that “extra” doesn’t mean “free.”
“While finding all of one’s preferred amenities is great, an overabundance of amenities can be bad for renters if they’re paying extra for amenities they don’t need,” writes ApartmentList in the report.
Too few or too many amenities in a property are likely more about upfront costs than anything else.
“Providing pet-friendliness doesn’t involve any upfront cost, but on the other hand, in-unit laundry takes up valuable additional space within a rental unit, and also requires significant upfront costs, including purchasing the machines and arranging the plumbing,” says ApartmentList.
Cat-friendliness ranked as the top over-supplied amenity in New York City — and coincidentally the least sought after. Some 60 percent of buildings are kitty-friendly but only about 10 percent of renters are looking for a cozy cat pad.
Meantime, only 16 percent of metros had a well-matched supply of amenities, meaning renters were likely to get all the amenities they want without additional ones that they don’t want.
Lancaster, PA, Lansing, MI and Oklahoma City, OK were among the well-matched metros.
Conversely, Detroit, MI, Indianapolis, IN and Cleveland, OH ranked as “amenity-poor” metros. Here, renters who are willing to pay for additional amenities will likely have difficulty finding what they’re looking for.
Affordability definitely influences what renters are willing to settle for. The study found that renters in less expensive metros tended to be more demanding than New York City renters.
Click here to read the entire report.