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

GettyImages 1134318184

Boston Globe / Contributor/Getty Images

  • 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.
  • Visit Business Insider's homepage for more stories.

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.

Add Comment()
Comments ()
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.