The Changing Face of Renters via Axiometrics

When it comes to apartments, the general understanding is that millennials, specifically, young, single adults, are the most likely cohort for such product. But in a recent report, researchers with the Joint Center for Housing Studies of Harvard University (JCHS) have shed more clarity on the future renters.

In its “America’s Rental Housing: Evolving Markets and Needs,” the JCHS noted that, “over the next decade, two broad demographic trends – the aging of the population and the increasing importance of minorities for household growth – will drive significant changes in rental demand.” In other words, while millennials make up the bulk of today’s rental growth, older baby boomers and minority groups – specifically Hispanics – will also have a huge impact on demand for rental housing in the future.

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