How the Multifamily Landscape Has Changed in the Past 15 Years
Digested from “Multifamily Residents Expect More”
GlobeSt.com (8/17/15) Dolce, Natalie
Younger Americans are delaying starting new households until later in life and are subsequently delaying their foray into homeownership as well. As a result, more continue to prefer renting, which has minimal commitment outside of a general lease time frame, and are looking for different amenities from what generations past sought.
Today’s renters prefer walkable apartment communities, with an emphasis on eco-friendly amenities, such as green spaces, energy-efficient and smart appliances, and thermally efficient windows. Equally important are communal spaces and storage. Today's renters also want a greater variety of services, such as bike repair shops, package delivery rooms and pet services.
These changing demands are also affecting apartment home layouts. Owners are renovating older apartment communities to open up previously segmented room arrangements.
As younger renters continue to be apartment community residents, expect high demand for apartment homes to continue.
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