Security deposit statistics & research | Roost
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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 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 66% 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.

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

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

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

Get insights and guidance for your property

Sources

  1. Roost security deposit survey 2021
  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. Roost renting & late fees renter survey
  6. CNBC  
  7. National Multifamily Housing Council
  8. Financial Health Pulse® 2022 U.S. Trends Report
  9. Bureau of Labor Statistics
  10. Pew Charitable Trust
  11. Federal Reserve
  12. US Census Bureau
  13. Apartment List
  14. Transunion
  15. Urban Institute
  16. Rentcafe