Millennials make up the largest generation in US history, according to statistics accumulated by Goldman Sachs. With that, the impact of their working and spending habits on multifamily real estate will grow significantly with time. Millennials are more tech-savvy, marrying later, and moving more. Due to additional economic influences, more and more millennials are changing their home-buying strategies from buying to renting – especially when location is too good to pass up. To a millennial, life in the suburbs allows for stable family life, but the thrill of renting an apartment includes location convenience, financial flexibility, and… amenities.
If the perfect apartment also includes luxuries such as energy efficiency, updated charging outlets, storage, fitness opportunities, and car services, their attention will be grabbed and their interest will grow.
As millennials continue to take over multifamily real estate, attraction and retention of their business will be imperative to the success of up-and-coming apartment complexes, and the next generation will only want more.
Here is a look at 20 apartment amenities millennials will be looking for before deciding to rent: