Landlords now have the ability to list single rooms for rent on Zillow, as affordability concerns relegate more renters to living with roommates.
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As rentals of whole apartments become unattainable for renters in some markets, a new Zillow feature will allow prospective tenants to view listings of individual rooms, the company announced this week.
Starting this week, landlords have the ability to list single rooms in apartments for rent, as affordability concerns relegate more renters to living with roommates.
“We know finding the right place to call home isn’t one-size-fits-all,” said Michael Sherman, vice president of Zillow Rentals. “By introducing room listings, we’re crafting a robust marketplace of options that truly reflects the varied needs of renters. We’re committed to providing a platform where searching for a room, a house, an apartment or anything in between is as easy as clicking a button.”
The announcement, made Thursday, comes as rents in the United States have risen 30 percent since the pandemic, leaving nearly 50 percent of renters nationwide cost-burdened by their monthly rent, according to Harvard research.
Americans are renting for longer, too. As high mortgage rates make owning a home even more expensive, would-be homeowners continue to rent their houses, which remains cheaper than buying in nearly every major housing market.
Zillow’s new feature is geared mostly towards young renters who are looking to live with roommates. Generation Z and millennial renters make up more than half of the United States rental market, according to Zillow data. A Zillow survey conducted with The Harris Poll found that 59 percent of these young renters say they are unsure where they would look to find a roommate if they needed one.
The survey of young renters also found that 60 percent of respondents reported that finding a good roommate is harder than finding a good romantic partner.
Zillow is billing the feature as not only beneficial for those looking for roommates, but for landlords and homeowners as well, giving homeowners an easy way to list rooms in their house to bring in extra income and help pay their mortgage.
Email Ben Verde