The Demographic of Today's Renter

"The Renter Demographic: Who Are They Now?" is the title of an article posted by Howard Bell on the American Apartment Owners Association web site.

The premise of Mr. Bell's article is that the rental demographics are changing and apartment owners should be aware of this and adjust their approach accordingly.

The 2 main drivers of the future rental market are the children of baby boomers, known as the echo-boomers, and empty nesters. Echo-boomers account for approximately 1/3 of the population and grew up on the Internet instead of TV. According to Mr. Bell, they are more wired, multi-cultural and hold more traditional values than many of their parents.

Empty nesters are the over-60 renters who are trading their suburban homes and yards for apartments that have close access to shops and entertainment.

To take advantage of these large and growing segments of the rental market, landlords need to understand what these renters value and incorporate new design elements and amenities that will make the apartment more appealing to them.

Click here to access Mr. Bell's article.