Trends in multi-housing will continue to be heavily influenced by the largest renter demographics: Millennials and Boomers. Believe it or not, both demographics are looking for similar features. Here is a breakdown of what will be trending in 2015:
- Pets: Millennials are looking to start families later than past generations and a lot of Boomers are empty-nesters. This means both groups love their pets. Pet parks, doggy daycare and grooming services will continue to draw interest.
- Accessibility: Both Boomers and Millennials are looking for apartment communities that are close to local amenities (restaurants, shopping, parks, etc.) and employers. A walk-able distance to such businesses, or close proximity to public transportation, is a huge plus. Communities offering food venues in the main lobby, or in adjacent commercial space, will also attract renters.
- Technology: It’s no surprise that Millennials are connected. After all, they grew up in a digital world. But, according to the Pew Research Center, Boomers are also largely connected. Both demographics enjoy features like wall outlets with USB ports, wireless Internet, good bandwidth and mobile apps offering rent payment and maintenance requests options. And, good cell phone reception is a must have!
- Green Features: Increasingly, Americans are using their buying power to support companies and organizations with sound environment policies. As a result, more and more apartment buildings are being built to green building standards. However, green building practices are not the only thing environmentally aware renters are looking for. Biking and walking facilities, energy efficient appliances, electric car ports and green spaces are becoming popular amenities.
