Providing Market Intelligence for 40 Years

In The News

Amenity fees and resident demand for technology

A white paper by Parks Associates, developed in partnership with Groove Technology Solutions, examines the dynamics driving the adoption of technology amenities in multifamily rentals. It explores how these amenities are funded, their impact on operational efficiency and residents’ willingness to pay.

Parks Associates reports that, by 2024, approximately 13 percent of apartment residents in the U.S. lived in units equipped with in-unit smart amenity packages. These packages commonly include smart thermostats, door locks, video doorbells, smart lighting, and connected smoke detectors.

Parks Associates’ consumer surveys reveal that 14 percent of U.S. apartment residents report paying a technology amenity fee, a figure that rises to 21 percent among condo owners. The average monthly fee is $75 for renters and $80 for condo owners.

The Parks Associates white paper concludes that smart technology amenities have become a baseline expectation in new multifamily construction and are increasingly being adopted in older properties.

From the article, "Amenity fees and resident demand for technology" by Alex Young

Previously In The News

As Cord Cutting Grows 85% of Americans 22–37 Subscribe to a Streaming Service

This week the research group Parks Associates released an updated look at the state of streaming video. According to the study, 85% of American millennials (people born between 1981 and 1996) now subs...

19% of US Broadband Homes Cancelled an OTT Video Service in the Past 12 Months

Parks Associates announced that the churn rate for OTT video services is 19% of US broadband households, indicating roughly one in five households have cancelled an OTT service in the past 12 months....

Almost 50% Smart Home Devices In U.S. Are Self-Installed, Parks Associates Finds

Wireless home security sales are increasing, as almost one-half of home security owners in the U.S. have a home security system that connects wirelessly to sensors, according market research firm, Par...

Report: Consumers’ Growing Appetite For Solar, Storage And Bundled Home Energy Services

The number of broadband households that have adopted rooftop solar panels doubled to 4 percent in the period 2013 to 2015. Seven percent of U.S. broadband households said they plan to purchase solar p...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive