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Who is renting now? Millennials and Retirees

The largest population cohort, Millennials, are entering their prime spending years. This cohort is described as The Sharers, as coined in the book Big Shifts Ahead: Demographic Clarity For Business. Sharers are marrying later in life, have more student debt and are more interested in capturing the best social media photo on an adventure than purchasing a home. This cohort prefers to live in an Urban neighborhood and embraces a co-living environment. Sharers want to be connected to the world and community they live in.

“The Innovators” cohort is now entering their golden years. This cohort lead the Technology Revolution and experienced great wealth as a direct result. These retirees are now entering the rental market because of their desire to be active, socially connected and travel more. Renting allows them greater flexibility and less home maintenance. This cohort prefers a slower pace that is offered in suburbs and golf course communities.

Understanding the market and the client is key to developing a product that will exceed their expectations and grow with technology. We are developing with the end user in mind. Contact our office today to learn more about our projects 702-545-0355.