We asked 5,786 Americans if they rented an apartment and those who answered affirmatively were asked a series of questions about their internet connection, and which amenities they would be looking for in their next apartment. Overall, we found that high-speed internet was essential to many shoppers and that nearly 50 percent of all apartment hunters would be willing to pay more for ultra-high-speed internet connections via fiber.
Wireless Internet Access Is Most Common for Apartment Dwellers
We asked apartment dwellers the type of internet connection used, and wireless access was the most common at 35 percent.
High-Speed Internet Access Is Essential For 39 Percent of Apartment Hunters
We asked apartment dwellers which features “you would rank as must-haves” when searching for an apartment and found that high-speed internet access was essential for nearly 39 percent of respondents, neck-and-neck with a dishwasher. Only an in-unit washer/dryer was more important to respondents.
Current fiber customers are more likely to rank high-speed internet as a “must-have” compared to non-fiber customers. Comparing those that selected at least one amenity from our list (High-Speed Internet, Gym / Fitness Center, Pool, Covered Parking, In-Unit Laundry, and a Dishwasher), more than half of current fiber customers added high-speed internet to their must-haves, compared to only 39 percent of non-fiber customers.
Fiber Customers Are More Satisfied; Investment Opportunity for Landlords
We asked apartment dwellers to rank the quality and speed of their internet access and found that 75 percent of Fiber customers rated their access “good” or “very good,” compared to 70 percent of non-fiber customers.
We asked apartment shoppers if fiber was available at an apartment, would it influence their decision to rent. 30 percent of customers without fiber connections today responded that a fiber connection would be a consideration for a future apartment. Knowing how much more satisfied that fiber customers are than the rest of the pack, it is isn’t surprising that 47 percent of fiber customers responded “yes” to the same question.
Finally, we asked apartment shoppers to say how much more they would be willing to pay for an apartment with a fiber connection. Roughly half of shoppers said they’d be willing to pay more. How much more?
For customers without a fiber connection today, 17 percent said $50 or more per month. For customers with a fiber connection today, 35 percent said $50 or more per month.