Renters Will Pay Hundreds More to Choose Their Neighbors
Renters would pay $225 per month on top of their existing housing expenses if they could choose the people they live next door to, finds a new survey from Rent.com, an apartment search website. Homeowners would pay less, averaging $125 more.
Millennials may care the most about who is living next door. Millennials were willing to pay more than four times the average that baby boomers were to know about their neighbors, according to the survey of 1,000 renters and homeowners. The same held true whether millennials lived in apartments, duplexes, or townhouses, as well as those who lived in a city or elsewhere, according to the survey.
The survey also found that renters who paid less and those who lived in rural areas were the most satisfied in their friendships with their neighbors. Indeed, researchers note that those who paid less than $700 in rent were more satisfied with their neighbors than those who paid more.
Further, Americans who live in a single-family home or have children reported a higher rate of satisfaction with their neighbors. “Maybe it has to do with the fact that children need strong friendships to thrive, and the neighborhood is the easiest place to find them, apart from school,” the survey notes.
Article by REALTOR Magazine, August 2019