Exploring the Additional Costs Associated with Apartment Amenities

Ed Greable Blogger May 22, 2017

When looking for a place to rent in Boston, there are a number of factors to consider. Among these factors are the neighborhood, the size of the apartment and the number of bedrooms. Another factor that can play a significant role in helping you choose the apartment that is right for you while also have a massive impact on the cost of your rental are the amenities that are included with the rental. From fitness centers to roof decks, the number of possible amenities is seemingly endless. Having a general idea of how much you can expect the addition of these amenities to increase the final cost of your rental is good information to have before you begin your search.

According to a survey conducted by the National Apartment Association an analytics firm Enodo Score, the following amenities increase the average rent premium by the following amounts:

  • Lounge: $80.15
  • Concierge: $74.87
  • 24-Hour Fitness Center: $66.93
  • Club House: $64.30
  • Roof Deck: $56.38

These figures are based on calculations using a hypothetical 1,057-square-foot apartment.

With many renters willing to pay the extra fees for these amenities, it is not surprising that a fairly large number of rentals in Boston come equipped with them. In fact, the survey found that each of these amenities occurred with the following frequency in Boston:

  • Lounge: 16%
  • Concierge: 22%
  • 24-Hour Fitness Center: 25%
  • Club House: 15%
  • Roof Deck: 20%

When looking at national data gathered from 100,000 responses from 35 states, Fitness Centers remained at the top of the list of amenities.

Amenities Becoming Increasingly More Common in Upgrades

When examining units that have been upgraded since 2014, the Fitness Center continues to take the number one spot. In all, the following amenities were found to be the top community-wide amenities in these upgraded buildings:

  • Fitness Center: 12,574
  • Business Center: 12,307
  • Clubhouse: 11,250
  • Common Areas for Socializing: 9,716
  • Pet-Friendly: 8,942
  • Landscaping in Common Areas: 8,555
  • Swimming Pool: 8,492
  • Outdoor Kitchen: 7,271
  • Playground or Play Area: 6,668
  • Package Holding Area: 6,651

In terms of unit-specific amenities, the researches found the following to be the top in units upgraded since 2014:

  • Washer/Dryer in Unit: 9,386
  • High-End Kitchen Appliances: 8,726
  • Hardwood Floors: 7,976
  • Lighting, Plumbing, Electrical Upgrades: 7,868
  • Energy-Efficient Appliances: 6,738
  • High-End Kitchen Countertops: 6,007
  • Ceiling Fans: 4,747
  • Cable TV: 3,138
  • Garbage Disposal: 2,931
  • Patio, Balcony, Personal Outdoor Space: 2,879

Based on this data, it would appear that many renters are more interested in a home that offers the convenience of being able to complete tasks at home. Meanwhile, amenities that were once highly sought, such as cable television, are no longer at the top of most renters’ lists.

Before beginning an apartment search, it is good to have a clear idea of the types of amenities that might be available as well as the amount it is likely to increase the price of rent. In this way, you can more effectively evaluate your needs and wants in terms of what you are looking for in a rental. By examining your lifestyle as well as your budget, you will be better prepared to determine if the added cost of a particular amenity is worthwhile to you.

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