Statistics & research | Roost

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

• Security deposits statistics
• Renter financial health 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 health 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 health 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

1. Roost security deposit survey 2023
2. Roost financial amenities & services survey
3. Onbe’s 2022 Rental Disbursement Survey
4. Joint Center for Housing Studies of Harvard University: The State of the Nation’s Housing 2022
5. TransUnion rent reporting survey 2019
6. Roost renting & late fees renter survey
7. TransUnion resident surveys
8. CNBC  
9. National Multifamily Housing Council
10. Financial Health Pulse® 2022 U.S. Trends Report
11. Bureau of Labor Statistics
12. Pew Charitable Trust
13. Federal Reserve
14. US Census Bureau
15. Apartment List
16. Transunion
17. Urban Institute
18. Rentcafe