Smart, Safe, and Secure Apartment Living

Description

SYNOPSIS:

With a record amount of new inventory hitting the market, the multifamily housing is growing increasingly competitive. Newer and older properties must vie for renters, and key decision makers are looking towards meaningful ways of differentiating their communities. This study examines renter demand for smart, safe, and secure living solutions, looking at the actual impact to renter decision making. It identifies the impact of investments into resident-facing apps and app functions, property access control, security cameras and smart security solutions, and smart door locks for residential units, comparing them against more traditional amenities.

INFOGRAPHICS

This study draws from Parks Associates' Q1 2025 survey of 8,000 U.S. internet households. The survey is demographically representative of US internet households, with quotas for age, income, gender, and educational attainment.

Key questions addressed:

1. What is the landscape of adoption of smart living and smart safety amenities and services in multifamily housing?
2. Which amenities and services act as differentiators for renters, and to what extent do these differentiators drive consumer choice?
3. What value do residents place on apartment apps, and what features are they looking for?
4. How do residents evaluate safety and security in communities? Which features have the greatest impact on perceived safety?
5. Do residents believe investments into smart, safe, and secure apartment living justify rental increases? If so, by how much?

ANALYST INSIGHT:

"The multifamily housing market remains highly competitive, even as it absorbs additional inventory coming online. While key decision makers remain concerned about tariffs, the effect to date has been minimal as companies act to secure their supply chains." - Kristen Hanich, Research Director, Parks Associates.

Executive Summary

Net Promoter Score of Unit and Neighborhood
NPS Among Those Likely vs. Unlikely to Move
Importance of Tested Amenities Among Prospective Residents
Community Safety Concerns by Residence Type
Apartment NPS by Number of Tested Security Measures
Willingness to Pay for Property-Provided Smart Home and Security Packages by Residence Type
Potential Market Opportunity of Property-Provided Smart Home and Security Packages by Residence Type
Impact of Smart Amenity Satisfaction on Property NPS
Satisfaction With Tested MDU Metrics
Property NPS by Internet Service Type
Home Internet NPS by Property Type

Residential Smart Building Market Characteristics

Multifamily Market Size
Single-Family Market Size
Resident-Reported Landlord by Housing Type
Net Promoter Score of Unit and Neighborhood
Net Promoter Score of Unit by Property Type
Length of Tenure And Churn by Residence Type
Amenities and Features Provided by Community by Residence Type
Satisfaction With Tested MDU Metrics
Impact of Smart Amenity Satisfaction on Property NPS
Self-Reported Property-Provided Device Adoption Among Multifamily Residents

Appeal of Smart Safety Use Cases

Community Safety Concerns by Residence Type
Satisfaction with Safety and Security of Home and/or Neighborhood
Use of Home Security Devices by Residence Type (Either Resident-Acquired or Property-Provided)
Current Property Security Measures by Residence Type
Apartment NPS by Property Security Measures
Apartment NPS by Number of Security Measures
Desired Property Security Measures by Residence Type

Impact of Smart Amenities on Home Selection

Impact of Tested Amenities on Apartment Resident NPS
Importance of Smart Amenities for Future Home
Interest in Smart Home Devices and Security Features by Residence Type
Importance of Smart Amenities vs. Top Amenities for Future Home
High Importance of Amenities, Among Those Likely to Move In Next 6 Months
Willingness to Pay for Property-Provided Smart Home and Security Packages by Residence Type
Potential Market Opportunity of Property-Provided Smart Home and Security Packages by Residence Type
Demographics of Those Willing To Pay $60 Per Month for Smart Home and Security Amenity Package
Future Home Expectations: Smart Features and Amenities by Residence Type

Smart Apartment Apps and Services

Importance of Resident App Features by Residence Type
Usage of App & Website Portal by Residence Type
Tasks Performed by Using Mobile App Among MDU Residents
Tasks Performed by Using Web Portal Among MDU Residents
Tasks Performed Using App, Among App Users
Tasks Performed by Using Web Portal, Among Portal Users
Use of Resident App by Apartment Rent Tier
Tasks Performed Using Resident Mobile App by Apartment Tier

Bulk Internet and Amenity Fees

Adoption of Bulk Internet Service
Home Internet Payment Method by Residence Type
Bulk Internet Payment by Type of Rented Home
Bulk Internet Payment by Type of Owned Home
Bulk Internet Service
Receives Bulk Internet or Pays Technology Amenity Fee
Median Technology Amenity Fee (Including Bulk Internet) by Property Type
Property NPS by Internet Service Type
Home Internet NPS: Standalone Retail vs. Bulk
Mean Monthly Cost of Standalone Internet Service: Retail vs. Bulk
Average Download Speeds of Multifamily Residents
Technology Amenity Fee is Worth the Cost
Willingness to Pay $60 Per Month for Smart Home and Advanced Security Features from Community

Appendix

Housing Factors Breakdown of Residence Type
Demographic Breakdown of Residence Type
Employment & Race Breakdown of Residence Type