Renters are becoming a larger customer segment for home security providers, with 37% of consumers who purchased a security system in the past year renting their homes, according to new research from Parks Associates.
The findings come from the firm’s “Home Security in Transition: The Future of Protection” study, which surveyed 8,000 U.S. internet households. By comparison, just 8% of security system owners who purchased their systems more than six years ago are renters.
“Renters represent an important growth opportunity for the security industry,” said Jennifer Kent, SVP and Principal Analyst, Parks Associates. “Security providers have traditionally focused on homeowners, but the market is changing. Companies that can offer affordable, easy-to-install systems, flexible monitoring, and solutions that move with the customer will be better positioned to capture this demand.”
Nearly one-third of households that purchased a security system in the past year also moved during that period, highlighting relocation as an opportunity for providers to reach consumers evaluating new technology and services.
Security Adoption Continues to Grow
Parks Associates reported that 37% of U.S. internet households now own a security system, up from 31% in 2022. Meanwhile, 12% own a security camera or video doorbell without a full security system, compared with 7% in 2022.
Paid security services, including professional monitoring and subscriptions tied to standalone video devices, reach 36% of U.S. internet households.
The market is also attracting new competitors. Apple’s expansion into smart home security, including its collaboration with LG on security cameras and video doorbells, adds another major consumer technology brand to the category. ADT is providing professional installation as part of the collaboration.
“Apple’s entry brings another major consumer brand into a market where cameras, video doorbells, and connected devices are increasingly driving adoption,” said Kent. “ADT’s installation role is particularly interesting because it creates a potential relationship with Apple households that could extend beyond the initial device purchase. Professional monitoring has not been announced as part of this collaboration, but installation could open opportunities for additional devices, upgrades, and paid services over time.”
Opportunities for Integrators and Service Providers
The growth in renter households could create opportunities for security providers to work with multifamily property owners and operators. Portable devices, property-supported security packages and flexible service agreements could help companies reach residents while building recurring service revenue.
Parks Associates’ research examines consumer security needs, adoption trends, monitoring preferences and satisfaction, along with factors driving customer churn. It also explores interest in emerging technologies, including proactive deterrents and automated detection, as the market shifts from traditional security systems toward newer service models.
For more information, visit Parks Associates. For data insights or more information, contact Mindi Sue Sternblitz-Rubenstein.
