RealPage Unveils New Multifamily Rental Trends - Seite 2

“What the results clearly show is that renting is hot today, but that there is nuance across age demographics in terms of benefits, discovery tools, the overall experience, and amenities, including technology,” said Jason Dorsey from The Center of Generational Kinetics. “The survey also identified shifting priorities with the advent of remote work and an increasing desire for community interaction, quality of life, and financial freedom.”

The Results

State of Multifamily Renting

Each generation sees different advantages to renting today, and their perceptions on renting a multifamily home differ greatly by age:

• Nearly three-fourths (73%) of renters say they are renting in an area where they couldn’t afford to buy – showing that apartments help diversify preferred neighborhoods.
• 66% of renters are satisfied with their current overall renting situation, with younger renters showing the highest satisfaction rates.
• Gen X renters say the primary advantages to renting are freedom from home maintenance and property taxes; Gen Z renters prefer more flexibility and less responsibility than owning a home.
• 44% of American renters think renting is a smarter financial move than buying a house, with Gen Z renters leading the demographics at 51%.
• 48% of American renters say renting their home gives them financial freedom.
• Respondents’ top reason for renting their current apartment is because it’s a monthly payment they can afford.
• 87% of American renters think paying their rent on time should improve their credit score.

Search, Decision and Resident Experience Drivers

The ways that renters expect to search for their next rental property and the factors that drive their rental decisions also differ vastly across age groups. While Gen X renters have adapted to using technology to find their next rental, Gen Z renters tend to focus on community and use more social channels to determine where they will rent next.

Renters from different generations tend to focus on different topics when researching potential rental properties:

• Gen X renters are more likely to research the crime history of a neighborhood while Gen Z renters are more likely to dive into the lease agreement terms and pet policies.
• For all generations of renters, a quiet environment and parking or a garage option are by far the most important amenities when deciding on a new rental property.

Resident experience drivers also differ greatly by gender: