Apartment hunters are still optimistic - barely - despite the coronavirus pandemic

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  • The coronavirus pandemic has impacted renter interest in the US but just over half of those in the process of finding a new apartment are remaining optimistic.
  • RENTCafé surveyed over 6,000 rental seekers and found that 56% still plan on moving despite the outbreak.
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As the coronavirus pandemic worsens in the US, renter interest continues to dip.

RENTCafé reported that rental housing searches on its site dropped by 25% from March 11 to March 17. For the same week a year earlier, traffic was down just 4%.

However while renter interest is falling, data reveals that most renters who are in the process of finding a new apartment are remaining optimistic.

From March 18 to March 20, RENTCafé surveyed over 6,000 people who are in the process of searching for a new rental home to see if they were still planning on moving, and 56% said they will still move as soon as they find a new apartment. On the contrary, 17% said they will not move in light of the pandemic and 16% hadn't decided yet.

Nearly half - 49% - of those surveyed said their renting preferences have not changed in light of the outbreak, 51% said the current situation has not impacted their apartment selection process, and 60% said they don't plan on postponing their move-in date.

RENTCafé plans to re-run the survey this week, with more shelter-in-place orders being put in place around the country.

Get the latest coronavirus analysis and research from Business Insider Intelligence on how COVID-19 is impacting businesses.

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