SAN FRANCISCO, Nov. 19, 2020 /PRNewsCentre/ — Zumper, the largest privately held rental marketplace in the U.S. used by more than 15 million renters a month, released today its annual "State of the American Renter" report for 2020, which confirms that this year has been a year like no other for the rental industry. The report examines the current status of the U.S. rental market and found that there have been several major shifts (see below).
Zumper surveyed more than 14,000 respondents aged 18+ from all 50 states across the country as well as Washington, D.C. The online survey was sent to Zumper and PadMapper users based in the United States and shared among their family/friends from June 2020 to August 2020.
"The COVID-19 pandemic has dramatically altered the lifestyle of the American renter and, in many instances, completely reversed trends in the rental market we have seen for years," said Anthemos Georgiades, CEO and Co-Founder of Zumper. "Our report shows that renters are more impacted than homeowners by the pandemic, and they have adjusted significant behaviors and sentiments in response."
The report reveals eight major themes:
The full report, including Zumper’s 2020 Rental Market Analysis and 2020 Annual Renter Survey results can be found here. Over the next several weeks, Zumper will be releasing in-depth analysis of specific sections of the report on its blog. If you would like a custom analysis of the findings for a specific location or topic, please email firstname.lastname@example.org .
A total of 14,321 renters aged 18+ from all 50 U.S. states as well as Washington, D.C. were surveyed June through August 2020. The survey was sent to Zumper and PadMapper users based in the United States and shared among their family and friends. All responses were gathered online, with a monetary incentive of the chance to win one of four $500 cash prizes. In an effort to minimize sampling bias and improve the representativeness of the American renter population, survey responses were calibrated on several renter characteristics to more closely match the makeup of the American renter population as estimated in the 2019 American Community Survey conducted by the U.S. Census Bureau. Responses were calibrated on renter age, race/ethnicity, sex, and educational attainment using the raking algorithm used by American National Election Studies.
Zumper aims to make renting an apartment as easy as booking a hotel. With over 15 million visits every month, Zumper’s free online and mobile rental search marketplace has become the largest startup in the industry. Headquartered in San Francisco, Zumper has 200 employees across the U.S. and acquired PadMapper in 2016. The company has raised a total of $140 million in funding from investors including e.ventures, Greycroft, Dawn Capital, Kleiner Perkins, Goodwater Capital, Axel Springer, Stereo Capital, the Blackstone Group, Breyer Capital, Foxhaven Asset Management, Andreessen Horowitz, Greylock, NEA, CrunchFund, xfund, Divco West, MMC Technology Ventures, Scott Cook, and the DeWilde Family Trust. Learn more at Zumper.com or email email@example.com .