The 2016 MFE Concept Community Study, The Next Gen Apartment, is a look to the future of the multifamily industry. The study takes a deep-dive into the technology, lifestyle, and design wants and needs of the youngest generation of renters, Gen Y, and the next generation, Gen Z.
84,942 residents, living across 1,555 communities, representing 26 companies participated in the study. The highest numbers ever for a MFE Concept Community study.
Recent trends show the multifamily industry bending over backwards to entice renters with contemporary homes embellished with the latest smart home technology, stylish interiors, and lifestyle enhancing amenities. But are the renters that they are working so hard to attract willing to pay more for all of the upgrades?
Well, yes and no. Overall, renters are certainly price conscious - but we knew that. However, J Turner Research and Multifamily Executive wanted to know which amenities renters would open their wallets for and which they wouldn’t. We asked renters share their preferences in regards to common area and smart home upgrades, short-term rental trends, package delivery, health and fitness amenities, electronic vehicle charging stations, bike ownership and bike sharing trends, and apartment design features.
You may be surprised which upgrades renters are most interested in!