Press release
Zillow expands rental marketplace with room listings, offering more affordable and flexible options
Renters and homeowners can now list a room for rent on Zillow, reducing housing expenses by finding a roommate to share costs SEATTLE, Feb. 8, 2024
About this update from Zillow Group, Inc.
[{"type":"text","content":"Renters and homeowners can now list a room for rent on Zillow, reducing housing expenses by finding a roommate to share costs \nSEATTLE, Feb. 8, 2024 /PRNewswire/ -- Zillow® today announced a significant addition to its rental offerings: the option to search for and list individual rooms for rent. This new listing type is particularly timely, as U.S. rents have surged nearly 30% since the pandemic, and a startling 50% of renters are now cost-burdened, spending 30% or more of their income on rent and utilities. Splitting costs with a roommate can help alleviate this financial burden.\n\n \n \n \n \n \n \n\n \nRenters using Zillow can now include \"room\" listings in their searches alongside traditional \"entire place\" options. These listings, easily identifiable in Zillow search results, cater to those seeking shared living spaces in an increasingly expensive market.\nThis new listing option especially benefits renters looking for roommates, a common scenario among Gen Z and millennial renters, who make up more than half of the U.S. rental market. According to a Zillow survey conducted by The Harris Poll1, 59% of these younger renters report feeling uncertain about where they would go to find a roommate if they needed one. The survey also reveals 60% of respondents reported finding a good roommate is harder than finding a romantic partner, with a higher percentage of women (68%) feeling this pressure compared to men (49%).\nRecognizing the challenges renters face in finding a roommate, Zillow's room listings simplify this process by facilitating connections between renters and potential roommates.\n\"We know finding the right place to call home isn't one-size-fits-all,\" said Michael Sherman, vice president of Zillow Rentals. \"By introducing room listings, we're crafting a robust marketplace of options that truly reflects the varied needs of renters. We're committed to providing a platform where searching for a room, a house, an apartment or anything in between is as easy as clicking a button.\"\nMaximizing opportunities: How room listings benefit homeowners and landlords\nZillow's room listing feature is beneficial not only for renters, but also for homeowners, providing an opportunity to reduce mortgage expenses and enhance their financial stability. By listing available bedrooms, homeowners can create new income streams, whi...