Hardware Retailing The Industry's Source for Insights and Information
The Home Improvement Research Institute’s Renter’s Home Improvement Activity Study examines how and why renters are taking on more home improvement projects, providing a detailed look at renters’ behaviors, motivations and future intentions.
The study found that renters prioritize affordable, high-impact improvements when it comes to upgrading a home, and these projects are often funded through nontraditional sources like family loans. While renters experience more financial anxiety than homeowners, they still plan to spend more on home improvement.
Renters prefer mass retailers and digital channels, with Millennials choosing hybrid channels to shop for products and Boomers favoring in-store experiences, reflecting shifting expectations surrounding convenience, accessibility and purchase experience.
Renters also tend to gravitate toward digital platforms and guidance-focused content, emphasizing DIY pragmatism, while owners go to professionals and contractors more often.
When considering future plans, renters prefer near-term, lower-cost upgrades, while owners tend to balance immediate needs with strategic improvements.
Retailers can tailor their product selection to target home renters by offering affordable, DIY products for those looking to make small, renter-friendly upgrades.
