Robert Salwasser’s Post

Gen Z is on the cusp of reshaping the rental market as they leave the nest in increasing numbers. In fact, it is the only generation adding rental households, while the amount of millennial renters has already peaked: rptn.co/-AoABbYAjas

With Millennials and Gen Z making up the largest portion of renters today, a shift has naturally occurred regarding the wants and needs of apartment living for this demographic. With the addition of hybrid and work-from-home models since the pandemic, many sought out a place to live with more privacy and space at the same cost of living. However, many are still unwilling or unable to own their own home, with high interest rates and rocky economic conditions deterring them from officially leaving the rental market. Additionally, Baby Boomers and even Gen X have also shown interest in renting BTR as many are selling their own homes to reduce maintenance costs while others have a desire to live closer to their children and grandchildren. These realities combined have naturally became the gasoline for the build-to-rent (BTR) market, as its development has increased 10x in the last decade. Setting aside the demand of modern renters, it's actually a win-win scenario for investors and owners, too. And many property management companies, including ResMan customers like Mark-Taylor, Inc., are investing, too. "We’re proud to be early pioneers with this product class," says Dustin Lacey, Vice President of Marketing & Technology at Mark-Taylor, Inc. Read the history, benefits, and future of BTR in rental housing in our latest blog: https://lnkd.in/gUPudr2s #buildtorent #buildforrent #multifamily #rentalhousing #propertymanagement

With Millennials and Gen Z making up the largest portion of renters today, a shift has naturally occurred regarding the wants and needs of apartment living for this demographic. With the addition of hybrid and work-from-home models since the pandemic, many sought out a place to live with more privacy and space at the same cost of living. However, many are still unwilling or unable to own their own home, with high interest rates and rocky economic conditions deterring them from officially leaving the rental market. Additionally, Baby Boomers and even Gen X have also shown interest in renting BTR as many are selling their own homes to reduce maintenance costs while others have a desire to live closer to their children and grandchildren. These realities combined have naturally became the gasoline for the build-to-rent (BTR) market, as its development has increased 10x in the last decade. Setting aside the demand of modern renters, it's actually a win-win scenario for investors and owners, too. And many property management companies, including ResMan customers like Mark-Taylor, Inc., are investing, too. "We’re proud to be early pioneers with this product class," says Dustin Lacey, Vice President of Marketing & Technology at Mark-Taylor, Inc. Read the history, benefits, and future of BTR in rental housing in our latest blog: https://hubs.li/Q02pVx_F0 #buildtorent #buildforrent #multifamily #rentalhousing #propertymanagement

Generation Z has been recognized as one of the most diverse and potentially best-educated group in American history, positioning this demographic cohort to potentially become the highest-earning demographic yet. Meanwhile, #housing #affordability continues to be a pressing issue. Research by RENTCafé reveals that #GenZ will spend 30.2% of their income on homeownership between 22-29 years old, making the decision to rent a more affordable option, lifestyle preferences aside. A well operated multifamily asset will continue to thrive, capitalizing on the opportunity for long term tenancy and various additional revenue sources that cater to this clientele. https://lnkd.in/gb2KAmPt 

Generation Z has been recognized as one of the most diverse and potentially best-educated group in American history, positioning this demographic cohort to potentially become the highest-earning demographic yet. Meanwhile, housing affordability continues to be a pressing issue. Research by RENTCafé reveals that Gen Z will spend 30.2% of their income on homeownership between 22-29 years old, making the decision to rent a more affordable option, lifestyle preferences aside. As shared by John Francis Rodiles, "A well operated multifamily asset will continue to thrive, capitalizing on the opportunity for long term tenancy and various additional revenue sources that cater to this clientele." https://lnkd.in/gHdbwrcj 

With Millennials and Gen Z making up the largest portion of renters today, a shift has naturally occurred regarding the wants and needs of apartment living for this demographic. With the addition of hybrid and work-from-home models since the pandemic, many sought out a place to live with more privacy and space at the same cost of living. However, many are still unwilling or unable to own their own home, with high interest rates and rocky economic conditions deterring them from officially leaving the rental market. Additionally, Baby Boomers and even Gen X have also shown interest in renting BTR as many are selling their own homes to reduce maintenance costs while others have a desire to live closer to their children and grandchildren. These realities combined have naturally became the gasoline for the build-to-rent (BTR) market, as its development has increased 10x in the last decade. Setting aside the demand of modern renters, it's actually a win-win scenario for investors and owners, too. And many property management companies, including ResMan customers like Mark-Taylor, Inc., are investing, too. "We’re proud to be early pioneers with this product class," says Dustin Lacey, Vice President of Marketing & Technology at Mark-Taylor, Inc. Read the history, benefits, and future of BTR in rental housing in our latest blog: https://lnkd.in/gWU57vHG #buildtorent #buildforrent #multifamily #rentalhousing #propertymanagement

As someone raised on Trading Spaces, I've always been fascinated by the home makeover genre. But today's generation of home makeovers are a little different: many are driven by renters. For Business Insider, I wrote about why so many millennials are renovating their rental apartments rather than waiting to buy to achieve their dream home. Millennials as a whole have struggled to purchase homes at the rates of previous generations:  A 2018 Urban Institute report found that only 37% of millennials had purchased a home by the ages of 25 to 34, whereas 45% of baby boomers had been able to purchase a home by those ages. Armed with YouTube and TikTok DIYs, many millennials are putting time and money into renovating their rental apartment, investing in their current happiness rather than an uncertain future. https://lnkd.in/eJJgt3HD

🏠 The rental market is witnessing a significant shift, with baby boomers stepping up as the new wave of landlords. As this generation edges into retirement, they're turning to real estate investment not just as a hobby but as a strategic move to ensure financial security, leverage home equity, benefit from low interest rates, and most importantly, to create a lasting legacy. Their deep dive into property investment is reshaping the landscape of rental markets, introducing shifts in property management and tenant demographics. This trend underscores the importance of understanding the diverse motivations behind real estate investment and its implications for the future of the rental market. For those of us in the industry, it's a fascinating time to observe and adapt to these changes, ensuring that we align our strategies to meet the evolving needs of landlords and tenants alike. Whether you're a baby boomer considering real estate investment or a professional navigating these shifting sands, there's no denying the impact of this generational shift. 🏡 #RealEstateInvestment #BabyBoomers #RentalMarket #FinancialSecurity #LegacyPlanning https://ayr.app/l/sHrG

Did you know Gen Z is outpacing Millennials in homeownership in the Midwest? A recent study by SmartAsset found that Gen Z homebuyers are making waves in cities like Cincinnati, Indianapolis, and St. Louis, thanks to a combination of affordability, opportunity, and smart decision-making. Nearly 28% of 24-year-olds owned homes in 2023, compared to just 24.5% of millennials at the same age. What’s driving this trend in areas like Greater Cincinnati? • 💵Affordability: The median home price for Gen Z buyers here remains attainable compared to skyrocketing costs on the coasts. • 💻Remote Work Flexibility: Many younger buyers are leveraging hybrid or fully remote roles to purchase homes in areas with a lower cost of living. • 🏙️ Community Focus: Cincinnati offers the perfect blend of urban amenities and community charm, making it an ideal spot for young professionals and first-time buyers. I understand young people’s frustration with the state of the housing market but homeownership is often more possible than many believe. I was fortunate enough to purchase my first home earlier this year at 22 years old. It wasn’t easy, but with careful planning, persistence, and taking advantage of opportunities in the Midwest’s more affordable market, I was able to achieve this milestone—and I believe many others can too. Let’s keep encouraging young people to explore creative pathways to homeownership and build a foundation for their future. #GenZHomeownership #CincinnatiRealEstate #MidwestLiving #AffordableHousing #HomeownershipTrends

We've meticulously analyze the homebuying tendencies of various generations, discerning intricate patterns within San Jose's dynamic market. Each generational cohort, from Baby Boomers to Gen Z, contributes uniquely to the fabric of the real estate landscape. Our data reveals that Millennials, often characterized by their tech-savviness and propensity for urban living, currently lead as the most prominent homebuying group, comprising 40% of the market. In contrast, Generation Z, still emerging into adulthood, represents a smaller yet growing demographic at 6%. Interestingly, Baby Boomers, with their wealth accumulation and preference for stability, hold a significant 20% share, showcasing their sustained influence in property acquisition. Generation X, known for their balanced approach to investments, occupies 24%, reflecting their cautious optimism in navigating economic fluctuations. This distribution underscores the diverse motivations and economic conditions shaping each generation’s decisions. Our insights at Block Change are not just about numbers; they paint a vivid portrait of evolving generational dynamics, influenced by cultural shifts, technological advancements, and economic factors. By understanding these nuances, we empower our clients to make informed, strategic decisions in the competitive real estate market of San Jose. Check out the full breakdown: https://lnkd.in/gjGrnDxE