Pet Ownership Soars Among Home Buyers, Influencing Purchase Decisions

Rhea-AI Summary

New Zillow data reveals that pet ownership among home buyers has surged during the pandemic, rising from 64% in 2020 to 73% in 2021. Buyers with pets tend to purchase larger homes, with 17% opting for homes over 3,000 square feet, versus 10% of non-pet owners. Additionally, 36% of pet owners bought homes with four or more bedrooms. The demand for private outdoor spaces also increased among pet owners (73% deemed it very important) compared to 65% of those without pets. The trend highlights how pets influence housing preferences and moving decisions.

Positive

• 73% of home buyers now own pets, up from 64% in 2020.
• Pet owners prefer larger homes; 17% buy homes over 3,000 sq. ft.
• 36% of pet owners purchased homes with four or more bedrooms.

Negative

• Pet ownership among homeowners decreased to 61% in 2021 from 67% in 2020.
• Only 57% of renters reported owning pets in 2021, up from 51%.

SEATTLE, Oct. 26, 2021 /PRNewswire/ -- New Zillow dataⁱ finds pandemic pet ownership is soaring among home buyers, impacting the types of homes they are likely to buy. Zillow's 2021 Consumer Housing Trends Report finds nearly three-quarters of home buyers report having at least one pet at home (73%), a big jump from the 64% of buyers who reported having a pet in 2020. 

Pet owners are more likely to buy larger homes with more bedrooms. Buyers with at least one pet are more likely than those without pets to buy a home larger than 3,000 square feet (17% versus 10%). About one-third of buyers with a pet (36%) purchased a home with four bedrooms or more, compared to one-quarter of buyers without pets (24%).

Zillow's research also indicates that buyers with pets are more likely to consider private outdoor space very or extremely important (73%) compared to buyers without pets (65%). Conversely, buyers without pets are nearly twice as likely to purchase a condo or buy into a housing co-op (14%) than buyers with pets (8%).  

"Pets are widely considered part of the American family, so it follows that they can factor into moving decisions," says Manny Garcia, a population scientist at Zillow. "This research shows an increase in pet ownership among recent movers and suggests that pets can impact housing preferences. In some cases, they may even be the catalyst for a move, along with other factors, such as remote work and shifting family priorities." 

Pandemic movers on the whole have been moving into larger, more affordable homes. Pet-owning buyers skew slightly younger than a typical home buyer without any pets — 41 years old versus 47 years old. They're also more likely to have children in the home, which may help explain why they're more apt to purchase larger homes with more bedrooms. 

Previous research done by Zillow and Rover specifically on dog owners found the majority of those surveyed (62%) say they would consider moving to a new home to better accommodate their pup. A Zillow report on 2020 home sales found certain pet-friendly features can contribute to a higher sale price or a faster-than-expected sale. Homes that advertise a doghouse in their listing description can sell for 3% more than expected, while homes advertising a fenced backyard or a dog run can sell up to five days faster.  

Significant increases in pet ownership were also seen among renters in 2021, but at a lower rate than home buyers. More renters now report owning at least one pet (57%) compared to 2020 (51%). Pet ownership has decreased among homeowners surveyed; 61% of homeowners reported having at least one pet in 2021, down from 67% in 2020.  

About Zillow Group

Zillow Group Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. 

As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.  

Zillow Group's brands, affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes Inc., Trulia®, Out East®, StreetEasy® and HotPads®. Zillow Home Loans LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).  

ⁱ Zillow Group Population Science conducted a nationally representative survey of more than 2,000 buyers. The study was fielded between March and August 2021. For the purpose of this study, "buyers" refers to household decision makers 18 years of age or older who moved to a new primary residence that they purchased in the past year.

 

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SOURCE Zillow

FAQ

What percentage of home buyers own pets according to Zillow?

73% of home buyers reported owning at least one pet in 2021, up from 64% in 2020.

How does pet ownership affect home buying preferences?

Pet owners are more likely to buy larger homes and prioritize private outdoor spaces.

What are the implications of pet ownership on home size preferences?

17% of pet owners prefer homes larger than 3,000 sq. ft., compared to 10% of non-pet owners.

How does pet ownership influence buyer demographics?

Pet owners tend to be younger (average age 41) and more likely to have children.

What trend was observed in pet ownership among renters in 2021?

57% of renters reported owning pets, a slight increase from 51% in 2020.