Renters of color pay higher security deposits, more application fees
Higher upfront costs add to the challenge faced by renters of color searching for a new home in today's tight rental market
According to a 2021 Zillow Consumer Housing Trends Report, when seeking a place to rent renters of color overall submit more applications and pay more in application fees and security deposits:
--Higher upfront costs add to the challenge faced by renters of color searching for a new home in today’s tight rental market.
--Renters of color pay security deposits more often than white renters, and the deposits they pay are typically $150 higher.
--Black and Latinx renters report submitting more applications than white and Asian American and Pacific Islander renters. The typical white or Asian American and Pacific Islander renter submits two applications, while the typical Black or Latinx renter submits three.
The following are links to recent Zillow reports.
- Renters of Color Pay Higher Security Deposits, More Application Fees (April 6, 2022)
- Renters: Results from the Zillow Consumer Housing Trends Report 2021 (August 21, 2021)
- Leap Years: How the Housing Market Soared During the Pandemic (February 2022 Market Report)
