At the recent NAA Apartmentalize conference, Chris Hood from Apartments.com delved deep into the mindset of today's renters. Data from a survey of 37,000 renters and visits to the Apartments.com website revealed a changing landscape, with factors like affordability, lifestyle changes, and safety playing pivotal roles in their decisions to move. Conversely, inflation keeps many from making the move. The search process is faster, with most renters making informed and decisive choices. How should apartment communities adapt? By understanding and addressing these evolving preferences in their marketing strategies. Click here to read more.
Meanwhile, RealPage conducted its own recent survey of 2,000 renters from across the nation representing various demographics. Their survey unveiled at the RealWorld 2023 conference found 66% of renters content with their current housing and enjoying financial freedom and flexibility. Their survey found that Gen Z particularly feels renting trumps buying, with 51% leaning toward rentals. Technology and safety are paramount, with Gen Z willing to shell out more for smart technology. Furthermore, community integration, quality of life, and financial freedom emerge as new priorities in the rental world. The RealPage annual conference has over 1,400 attendees with a combined 5 million rental property units under management or ownership.
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