In today’s rental market, tenants are looking for more than just a roof over their heads—they want technology that adds real financial value. In a survey of over 1,200 renters, Rently found that nearly 80% would be willing to pay higher rent if the smart home technology helped reduce their utility bills. This signals a shift in renter priorities, where efficiency and cost savings are becoming just as important as location and aesthetics.
The message to property managers and developers is clear: smart home features are no longer viewed as bonus amenities. Renters increasingly see them as essential tools that provide lasting value—not just convenience, but real returns in comfort, control, and cost savings.
Cost-Conscious Meets Tech-Savvy
Renters today are extremely mindful of their budgets, especially amid rising housing and utility costs. They are willing to spend more upfront if it leads to long-term savings and improvements to daily life. Increasingly, technology is being viewed not just as a convenience or luxury, but as a smarter financial decision.
When asked about what would motivate them to agree to higher rent, many renters pointed to smart home features that reduce monthly bills. This reflects a new way of evaluating value: if smart tech can lower energy usage and improve efficiency, a modest rent increase feels like a worthwhile investment.
Tech-savvy renters are looking for tools that make it easier to control how and when energy is used in their homes. Whether adjusting the thermostat from a mobile device or receiving real-time energy use data, these capabilities are influencing where renters choose to live and how much they’re willing to pay.
Efficiency Adds to Appeal
The features renters value most are not simply flashy—they are functional. Smart thermostats, for example, are among the most preferred technologies because they help optimize energy use without sacrificing comfort. The ability to set schedules, adjust settings remotely, and reduce unnecessary heating or cooling are key reasons why renters are embracing this kind of technology.
Renters are also thinking about long-term outcomes rather than short-term perks. While traditional features like pools or clubhouses still hold some appeal, the ability to monitor and control utility use is now taking priority. This reflects a deeper understanding among renters of how technology can impact not just comfort but also cost.
With many renters working from home and spending significant time indoors, energy consumption has increased. As a result, renters are taking note of which properties help them manage this shift with smarter infrastructure.
Affordability and Intelligence Go Hand in Hand
The connection between affordability and smart technology is becoming more direct. Renters want homes that help them save money—not just look good or feel modern. When technology offers immediate, visible benefits like lower utility bills, it becomes a strong differentiator in a crowded rental market.
Smart apartment features such as leak detection, automated lighting, and usage tracking systems are gaining popularity. These features offer dual benefits: renters gain more control over their costs, while property managers can reduce maintenance issues and improve energy efficiency across their portfolios.
This isn’t just about perception—renters are doing the math. When savings from utility-efficient tech help offset or surpass a rent premium, the decision to opt for a smart apartment feels justified. This value-driven mindset is especially strong among younger renters and those managing tighter budgets.
This mindset is also changing how properties are marketed. Listings that highlight smart thermostats, energy dashboards, and similar features are more likely to attract attention and generate inquiries. Renters are using this information to compare units, not just based on square footage or finishes, but on how the technology inside the home supports smarter living.
The Value of Every Extra Dollar
Renters are clear about what they want: technology that delivers tangible, everyday savings. The report shows that 60% of renters would be willing to pay more in rent for smart home features, and nearly 80% would pay more if those features lowered their utility costs. The willingness to spend more isn’t about novelty—it’s about value and return on investment.
For operators, this shift presents a major opportunity to meet renter demand and build stronger value propositions. Instead of pouring resources into high-maintenance, seldom-used amenities, developers can prioritize smart infrastructure that pays off over time for both sides. Efficient buildings mean happier residents, fewer maintenance calls, and potentially lower turnover.
Ultimately, renters are asking a simple, practical question when they tour a property: Will this apartment help me live better and spend smarter? Properties that can answer “yes” to that question are already one step ahead of the competition.
Renters are no longer making decisions based on aesthetics alone. They’re prioritizing homes that offer tools for financial control and peace of mind. In a market where every dollar counts, smart home technology has become more than a bonus feature—it’s a deciding factor.