We’ve been talking a lot about the importance of balancing historical context with real-time intelligence when developing strategy.

Historical data and benchmarks make up a significant part of the conversation, helping us understand where the market has been and how renter behaviour has evolved. Real-time data and predictive analytics complete that picture by helping us understand where the market may be headed next.

As we revisited our historical data library, one dataset immediately stood out: our simplydbs 2024 Rental Housing Study, which captured insights from nearly 18,000 respondents across Canada. Looking ahead to our 2026 study, we became increasingly interested in what may have shifted and what trends may be emerging if we asked renters the exact same questions again.

In 2024, we asked respondents:

“How important were the following items when you considered renting your suite?”

The survey measured sentiment across 20 decision-making factors. Understanding what prospective residents value when selecting their next home is critical for developing effective marketing, leasing and operational strategies. But the market today looks very different than in 2024. Vacancy has increased across many markets, incentives are becoming more common and economic conditions continue to evolve.

For that reason, as we designed the 2026 Rental Housing Study, we quickly recognized the 2024 dataset could not remain a one-time exercise. By asking the same core questions again in 2026, we are creating a consistent framework that allows us to measure renters' changing priorities. 

The goal is simple: move beyond static insights and begin identifying trendlines and predictive opportunities that can help shape future strategy across the rental housing sector.

Our 2026 Rental Housing Study is now live, and we’ll be sharing findings in upcoming columns. In the meantime, it’s worth revisiting what renters valued most in 2024.

Price sets the foundation

The 2024 data confirmed what many already suspected, but quantified it with remarkable clarity: price remained the dominant decision driver. Seventy-four per cent of respondents identified this as an “essential” leasing consideration. 

Price wasn’t simply the leading category; it stood in a category of its own. Only seven per cent of respondents indicated indifference toward price, reinforcing the reality that affordability was the primary constraint shaping rental decisions.

This will remain one of the most important metrics to track. Will continued economic pressure intensify price sensitivity, or will a softening market begin to ease renter concerns and rebalance sentiment around value?

Location: Multifaceted and critical

Location-related attributes formed the second tier of renter priorities, though the category itself was far from uniform.

• Close to transit: 62 per cent essential.
• Overall location of the community: 53 per cent essential.
• Close to school/work: 50 per cent essential.

These results highlighted the continued importance of accessibility and convenience. In 2024, renters were still making highly practical decisions focused on minimizing commute times and maximizing connectivity.

At the same time, lifestyle-oriented location factors were also beginning to emerge:

• Walkable to retail: 44 per cent per cent essential
• Close to nature: only 33 per cent essential, but 53 per cent rated it “nice to have,” resulting in an overall positive sentiment of 87 per cent.

This suggests while lifestyle enhancements mattered, they remained secondary to accessibility needs in 2024. Tracking these shifts in 2026 may reveal growing emphasis on lifestyle integration and neighbourhood experience.

Space and livability remained non-negotiable

The physical characteristics of the suite ranked among the most important factors influencing renter decisions.

• Suite size: 61 per cent essential with 95 per cent overall preference sentiment.
• Suite layout/design: 49 per cent essential.
• Physical building structure: 51 per cent essential.
• Reputation of the building: 52 per cent essential.

These findings reinforced a key takeaway: renters remained highly focused on the quality, functionality and livability of their homes. As return-to-office trends continue to evolve alongside changing market conditions, it will be particularly interesting to see how these priorities shift and rebalance.

Amenities played a supporting role

Amenities are often central to marketing campaigns, but the data suggests they functioned more as enhancers than primary decision drivers in 2024.

• Rental building amenities: 37 per cent essential.
• Approximately half of respondents viewed them as “nice to have,” resulting in an 89 per cent overall positive sentiment.
• Similarly, onsite staff, which 43 per cent identified as essential, highlighted the importance of service and operational quality, though not at the same level as foundational factors such as price and location.

This raises an important question heading into 2026: are amenities becoming key differentiators, unnecessary costs, or simply expected standard offerings?

Sustainability: Renters are paying attention to sustainability

Sustainability was clearly on renters’ radars in 2024, though it had not yet reached the top tier of priorities.

• Energy efficiency: 34 per cent essential.
• 46 per cent “nice to have."
• 80 per cent overall positive sentiment.

This positioned sustainability as an emerging priority with significant long-term potential. Repeating this question in 2026 will help determine whether energy efficiency is moving closer to “must-have” status,

Technology: Strong interest, emerging opportunity

While renters in 2024 did not view technology as a primary leasing driver, the data showed strong openness to tech-enabled living experiences.

• Digital communication tools: 61 per cent positive sentiment, including 18 per cent who considered them essential and 43 per cent as a valuable enhancement.
• Smart home features: 66 per cent positive sentiment, with 17 per cent rating them essential and nearly half as a meaningful added benefit.

These findings suggest technology is becoming an expected part of the modern resident experience, even if it is not yet a primary leasing driver. Tracking these trends into 2026 may reveal a shift from differentiator to baseline expectation.

Social factors: An emerging opportunity beyond initial leasing decisions

Community and social considerations ranked lower than expected in influencing initial leasing decisions, an interesting finding given simplydbs’ direct experience with residents actively seeking community engagement opportunities.

• Friends in the building: only 13 per cent considered this essential.
• At the same time, 44 per cent viewed social and community factors as “nice to have,” closely mirroring the share of respondents who felt indifferent.

While community-building initiatives may not yet drive leasing decisions, they remain important for resident experience and retention, and could become stronger differentiators heading into 2026.

Pet-friendliness: A key differentiator

One of the strongest lifestyle findings in 2024 centred around pet policies.

• Allowed to have pets: 52 per cent essential

With pet ownership continuing to be important in multi-residential properties, pet-friendly policies remain a strong differentiator. It will be important to track how renter expectations around pet experiences evolve heading into 2026.

The bottom line

The 2024 findings confirmed the fundamentals price, location and livability continued to dominate renter decision-making. Amenities, sustainability, technology and community played important supporting roles, but did not replace the core drivers.

As we look ahead to 2026, the conversation shifts from understanding what renters value today to anticipating how those values may evolve tomorrow.

For the rental housing industry, that transition, from insight to foresight, may ultimately prove to be the most valuable outcome of all.