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Security deposit statistics research | Roost

Check out Roost's security deposit statistics and other helpful data and research about renter financial health and the property management industry.

Security deposits statistics
Renter financial wellness statistics
Property management industry statistics

Security deposit statistics

Damage charge statistics

59% of renters don’t expect to get a full refund back

51% of renters report deposit refund terms were not well-communicated

40% of renters challenge move-out damage charges

25% reported leaving a negative review due to a lack of communication or transparency

29% of landlords provide a cost list of items and conditions

Refund payment statistics

Nearly 74% of renters prefer to receive reimbursements through faster digital methods, including direct deposits, payment apps, and virtual cards.

18% of renters have accidentally thrown out a reimbursement check (31% among 18-24-year-olds)

35% of renters receive their security deposits within a week or moving-out

41% would pay a convenience fee to get an instant refund

Security deposit payment statistics

68% of renters said their security deposit amount was reasonable

54% of renters split the cost of the deposit with a roommate

92% of renters use digital payment apps like Venmo or Paypal

5.6% of renters report having been paid interest on their security deposit

74% of consumers prefer digital payment methods over traditional forms, including cash or paper check.

63% of renters report they'd be much more likely to renew their lease if they received interest on their deposits

Renter financial wellness statistics

Rent payment statistics

46% of renter households are moderately or severely cost-burdened (2020)

In early 2022, 20% of renters reported they had lost income in the prior four weeks and 15% were behind on rent

25% of renters missed or paid rent late in the last 12 months

73% of renters are more motivated to make more on-time rent payments when their rent payments are reported to credit bureaus

Cash flow statistics

63% of Americans live paycheck-to-paycheck.

Hourly workers make up 58% of the American workforce and are likely to experience variations in their take-home pay every month.

92% of Americans would rather have a steadier, more stable financial life than more wealth

Renter financial wellness statistics

The median net worth of U.S. homeowners is 40x higher than the median net worth of renters ($255,000 vs $6300)

72% of Americans are financially coping or financially vulnerable

32% of Americans don’t have $400 in emergency savings

30% of renters turned to friends & family for financial help in an emergency; 70% relied on higher-cost credit options

Renters who had rent payments included in their credit files saw an average 60 point increase to their credit score

Property management industry statistics

Rent and vacancy rate statistics

Rental vacancy rate for apartments with five or more units rose to 6%.

The lease renewal rate has decreased to 57.3%.

2022 rents remain higher than in years past, with the National Rent Index at 18% year over year.

The median gross rent for a two-bedroom apartment is $1320

Eviction statistics

15% of American households are behind on rent

Eviction rates have nearly returned to pre-pandemic levels

Average costs per eviction estimate: $3500

Households with just $250 in savings are less likely to be evicted or miss a housing or utilities payment.

Renter demographic data

72% of renters are under the age of 45

5.4 million apartment households are headed by single women

The average renter credit score is 638

Sources

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