Amenities Survey Part 4 - Kitchens

The Real Estate Espresso Podcast

Amenities Survey Part 4 – Kitchens

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Amenities Survey Part 4 – Kitchens

Welcome to the Real Estate Espresso podcast, your morning shot at what’s new in the world of real estate investing. I’m your host, Victor Menasce.

Last week, we started a mini-series on amenities, the deep dive into amenities based on the outstanding work by apartment operator Greystar, the largest operator of apartments in the US with over 100,000 units in their portfolio. We’re working with Greystar on our own active adult project up in Spokane, Washington.

Now, if you want to learn more about that amazing project, come and register to our portal at ystreetcapital.com and we’ll be happy to share more about the project. Now, this is not a solicitation for investment. And of course, any investment would be by prospectus only, in compliance with SEC regulations.

Greystar recently published their latest amenities and apartment features market study based on year-over-year survey from 2023–2024. We spoke last week about technology, storage, security. On today’s show, we’re talking about kitchens, not from a lifestyle perspective, but from a design, capital allocation, and investor return perspective.

Kitchens are one of the more expensive rooms in any residential unit to build or renovate. They’re also one of the most emotionally charged spaces for residents. That makes them a critical decision point for developers. Spend too little and the unit feels cheap, and you spend too much and you end up eroding your returns without improving your rent and absorption.

Now recently, Greystar released its 2024 design survey on kitchen usage and preferences. The findings are a useful reminder that good design is not about trends; it’s about understanding how people actually live.

So let’s start with how people use their kitchen. Overwhelmingly, 96% of respondents said they use their kitchen for cooking and for meal preparation. That sounds obvious, but it’s an important anchor. Kitchens are not decorative showpieces. They’re workspaces, work-from space. Sixty-one percent also used the kitchen for eating, 38% for socializing, and 12% use it as a work-from-home space.

That matters because it tells us the kitchen has become a multifunctional room. It’s no longer isolated from the living space. It’s a hybrid of workspace, social hub, and utility room. When you design a kitchen today, you’re designing a room that carries more functional load than almost any other space in the apartment.

So let’s talk about features. When respondents were asked what kitchen features are important in their next rental home, the top answer was a pantry, with 80% rating it as important. So forget about that trendy-looking open-shelf concept. People want a pantry. That’s followed by a dining table at 75%, a garbage disposal at 67% — that’s one of these blenders that you put in the drain — and a kitchen island at 52%.

And this is where developers often get it wrong. Pantry space is one of the cheapest amenities to provide and yet one of the most valued. You don’t need exotic materials or premium finishes; you need volume, you need shelves, and a thoughtful layout. A well-designed pantry often delivers more perceived value than upgrading countertops and appliances.

The dining table is also a telling result. Despite the popularity of islands and breakfast bars, three-quarters of respondents still want space for a proper dining table. That doesn’t mean every unit needs a formal dining room, but it does mean the floor plan has to accommodate a table with seating without feeling cramped.

On the seating question specifically, 51% preferred breakfast bar or counter seating, 38% preferred a dining table, and 11% had no preference. That tells us the market is split, and the correct response is flexibility, not choosing one over the other. From a design standpoint, it argues for layouts that allow for both, even if modestly. A small island with counter seating space plus a compact table often outperforms a massive island that crowds everything else out and consumes a lot of floor space.

Next, let’s look at appliances. Sixty percent of respondents prioritized new or modern appliances. Fifty-five percent emphasized functionality. Only 26% cited energy efficiency, and even fewer mentioned brand or design aesthetics. Now that’s critical. Tenants want appliances that look current and don’t make them feel like they are living in yesterday’s unit. They’re not asking for professional-grade ranges or boutique European brands. Overspecifying appliances is one of the most common ways developers waste capital. Modern and functional beats premium every time.

Let’s look at finishes and fixtures. On sinks, 49% preferred double-basin sinks, 35% preferred single-basin, and the rest, no preference. Not a landslide either way, which again suggests the execution matters more than the ideology. A well-designed single-basin sink with good accessories can outperform a poorly designed double-basin.

Stovetops show a similar pattern. Gas is preferred by 34%, electric 28%, and the rest are split across induction, dual fuel, or have no preference. The takeaway isn’t that gas is dominant. It’s that no single choice satisfies everyone. Regulatory costs and infrastructure reality should drive the decision.

Countertops are a little more decisive. Natural stone led with 52%, followed by engineered stone like quartz at 28%, and everything else trails far behind. So you definitely want to use a stone-type countertop, whether it’s a natural stone or an engineered stone. You definitely want stone on your kitchen counter. That aligns with what we see in leasing. Stone signals durability and quality. Laminate, regardless of how good it looks, carries a stigma. From a capital perspective, quartz often delivers the best choice of cost, durability, and perception.

Next, we go to trash and recycling. Forty-three percent said they don’t care where the trash is kept as long as it’s hidden. Twenty-six percent preferred built-in bins under the sink, and 24% preferred stand-alone bins in the kitchen. It’s a simple lesson – visibility matters more than location. A hidden solution, even a basic one, is perceived as higher quality than an exposed one.

So, what does that mean for investors and developers? First, design should follow behavior, not necessarily trends. The data reinforces that kitchens have to be practical first, flexible second, and stylish third. The thoughtful decisions often create more value than expensive upgrades. Pantry space, storage layout, and flow consistently outrank flashy finishes.

You want to avoid extremes – don’t overbuild the kitchen so that it will erode the returns. Under-building kills demand. The sweet spot is a kitchen that feels modern, functional, and adaptable to multiple lifestyles.

Every dollar you spend should earn its keep. If an upgrade doesn’t improve rent, absorption, or retention, it’s not an investment, it’s a cost.

As you think about that, have an awesome rest of your day. Go make some great things happen, and we’ll talk to you again tomorrow.

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