When the pandemic struck earlier this year, a large swath of Generation Z moved back home. Now many are returning, drawn by generous concessions and generation-friendly technology.
A new Zillow survey found that concessions such as a free month of rent, free parking or a reduced security deposit enticed nearly half of Gen Z renters surveyed, 49%, to leave home and re-enter the rent market.
Rental concessions climbed from 16% to 30% between January and August. Since then, the share of rentals offering concessions has stabilized at around 34% nationally in October, with some exceptions. More than half of rental listings in Washington, D.C., Charlotte and San Jose offered some kind of concession in October.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
