R
enters move three times more often than home buyers, yet the rental experience has long been fragmented and inefficient. Zillow is working to change this by building a comprehensive and seamless rental marketplace. Our mission is to bring innovation, transparency, and ease to renting, just as we have for buying a home.

    Our recent partnership with Redfin and its sites Rent.com and ApartmentGuide.com was an exciting milestone in our efforts to transform the rental market. We've also partnered with Realtor.com to syndicate our multifamily listings, expanding visibility for property managers. These partnerships are part of a broader strategy to create a smarter, more connected ecosystem for renters and property managers.

    Here are five key things to know about the evolving rental marketplace:

    1. Historically, rental inventory has been fragmented, forcing renters to search across multiple platforms. Zillow is changing this by bringing inventory into one place and making it easier for renters to find their next home. We've started with single-family homes and now include 60% of this inventory on our site.

    2. Renter needs are evolving. The median age of a renter is now 42, and more renters have families or pets. With high home prices keeping many consumers in the rental market longer, demand for a seamless search experience has never been greater. Zillow is delivering consumer-first innovations like pet-friendly filters and intuitive search tools.

    3. Affordability remains a priority, and Zillow is bringing transparency to costs. Rents have grown 1.5 times faster than wages since 2019, making it harder for renters to afford their next home. We're empowering renters with clear pricing information to help them make informed decisions.

    4. Digital tools are essential in a fast-moving rental market. Renters often need to find a new home quickly, and Zillow makes detailed listings, virtual tours, and instant tour scheduling widely accessible. Our universal rental application allows renters to apply to multiple places for one flat fee, saving time and money.

    5. Zillow's marketplace benefits both renters and housing providers. We're creating a symbiotic ecosystem where renters can search, tour, apply, sign a lease, pay rent, and secure insurance all through our platform. Property managers have the tools to efficiently market listings, manage applicants, and streamline lease signings and payments. By bringing more rental listings onto our platform, we create a seamless and efficient process that benefits both parties.