The next generation of apartment residents is an entrepreneurial, technologically-adept and financially-independent group. They may be too young to venture out on their own yet, but today’s children will be moving out on their own sooner than you might expect and they are excited to soon be living the lifestyle of modern apartment living.
This demographic group, dubbed Generation Z (born between 1994 and 2000), is even more independent than Generation Y and Millennials, with many more of these teens expressing a desire to start their own businesses and hire employees (even though they are still in school). These independent thinkers are likely to choose apartments, in order to have financial stability and live the independent lifestyle they enjoy. Read the rest of this entry »
Millennials (20 to 35-year-olds) are heading to apartments in droves, not only for the value they offer but also because the apartment lifestyle matches their personalities. This massive group of approximately 77 million consumers is important in part because of its incredible buying power. The only demographic group closest in size is the Baby Boomer population.
Many of these children of Baby Boomers grew up in single-parent households and, as such, had more responsibility than any generation before them. This led to not only a greater sense of value, but also a greater sense of their own self-worth and independence. Some millennials are still in college or have just graduated. They are not interested in buying a home; instead, they are seeking apartments that offer them the convenience, value, and lifestyle they want. Read the rest of this entry »