Atlanta Apartments with In-Building Fitness Centers Not As Pricey As You Think

SAN FRANCISCO, Jan. 23, 2018 /PRNewswire/ -- Living in an apartment building with a fitness center may seem like an amenity reserved for luxury apartment renters, but in Atlanta, it's actually slightly more affordable than purchasing a gym membership, according to a new HotPads® analysis.

The typical Atlanta apartment building with a fitness center adds about $74 to a renter's monthly payment. With the average gym membership in the city costing $78 a month^[i], Atlanta renters can expect to save $4 a month renting in a building with a gym included.

Saving money and getting more exercise are two of the most common New Year's resolutions^[ii]. With 2018 just beginning, many people are joining gyms or dusting off the treadmills in their apartment's fitness center to make good on these promises. Without a meaningful difference in cost between apartment fitness centers and gym memberships, Atlanta renters are better able to examine their options based solely on their personal preferences.

"Renters who don't have to worry about the cost difference of renting an apartment with a gym or getting a membership are able to choose an apartment that best fits their lifestyle," said Douglas Pope, co-founder and general manager of HotPads. "Renters who want to keep their New Year's resolution without paying for parking or taking the bus to the gym every day should opt for a rental with a fitness center in the building. But renters who value a wide variety of gym features may be better off paying for a gym membership to meet their fitness goals."

In Atlanta, the cost of on-site fitness centers can vary by neighborhood. Renters in East Chastain Park can expect to pay about $280 per month more to rent in buildings with a gym – approximately $200 more than the city's average gym membership. Meanwhile, the rent premium for buildings with gyms in Lindridge/Martin Manor or Garden Hills is only about $20 a month, giving renters almost $60 a month in savings.

Renter demand for on-site fitness centers is high. A recent study by the National Multifamily Housing Council found that 82 percent of renters nationwide are interested in renting in buildings with an on-site fitness center.^[iii] In comparison, only 19 percent of apartments in Atlanta advertise a gym in the listing.

HotPads is a Zillow Group owned apartment and home search platform for renters in urban areas across the United States. For more information on Atlanta's rental market, visit HotPads.com.

Gym Premiums in Atlanta by Neighborhood

HotPads

HotPads is an efficient rental search platform for urban areas across the United States, with features designed for competitive markets such as map-based search, real-time notifications and detailed information on landlords and property managers that help renters spend less time searching and more time feeling excited about their next home.

Launched in 2005, HotPads is based in San Francisco and is owned and operated by Zillow Group, Inc. (NASDAQ: Z and ZG).     

HotPads is a registered trademark of Zillow, Inc.

^[i] https://www.statisticbrain.com/gym-membership-statistics/ 
^[ii] Based on figures from YouGov Plc. Total sample size was 1170 adults. Fieldwork was undertaken between 8th - 11th December 2017. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+). 
^[iii] http://www.nmhc.org/residents/ 
^[iv] Median Apartment Rent represents the median rent for rental listings in buildings with five or more units. 
^[v] To calculate the gym premium for a city or neighborhood, HotPads compared apartments with in-building fitness centers to similar apartments without in-building fitness centers, controlling for variables that can impact what an apartment costs to rent (such as the number of bedrooms and bathrooms, square footage, location, etc.). 
^[vi] HotPads compared a city or neighborhood's gym premium to the city's average gym membership cost as reported by the Statistic Brain Research Institute to find the cost difference. A negative cost difference represents the savings of renting in a building with an on-site fitness center compared to the city's average gym membership cost.

SOURCE Hotpads, Inc.

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