Right now, many renters are looking to continue working from home. Therefore, they are looking for rental properties that offer a home office space. However, because this has become such a popular home feature, these renters might have to pay premium prices for it.
In a survey of 20,000 renters, it was found that around one third of renters want to work from home full or part time. Out of those, around 35% would be interested in renting an apartment with a home office space. According to RentCafe, only about 26% of the surveyed have a separate room to use for work.
Because of the increase of interest in the extra space, apartment developers are taking notes, and incorporating larger units into their projects. However, whether it is a new construction or an existing unit, research shows that renters will have to pay extra for the home office perk.
On average, renters will have to pay about $337 extra per month for an extra bedroom to use as a home office. However, this average can change depending on the market.
The pandemic accelerated price appreciation and shaped several trends that have changed the real estate markets all around the country. Homes are now marketed and listed differently. Before the pandemic, the most popular features and amenities in listings were hardwood floors, granite countertips, and stainless steel appliances. Right now, the most popular ones are garages, full bathrooms, home office spaces, etc.
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