Multifamily Demand Reaches Beyond Millennials and Boomers

Multifamily Demand Reaches Beyond Millennials and Boomers

Ask most people working in the multifamily industry about demand for their communities and many will say there are 2 basic and key demographic segments: Millennials and Boomers.

SalesTouch showcases amenities as well as location!

But, a recent Multifamily Executive article by Stacy Stemen notes that even though those groups generate significant demand, there’s a third, sometimes overlooked, demographic in the demand equation: divorced people.

And, it’s a population that shouldn’t be ignored by multifamily marketing given that almost 50% of marriages in the US end in divorce.  One or both of the individuals involved in a divorce are likely to move back into rental housing.

Have you taken this market segment into consideration in designing and marketing your property?  Have you considered what amenities and/or features would make a property more attractive to this third demographic? Stemens suggests incorporating the following elements in a property to attract the third demographic:

  • Include child-friendly amenities — You could become a divorced parent’s top choice with this one item alone! Parents want to be able to provide a “sense of home” as well as gathering places for their children so you’ll see real interest in community spaces, pools and party rooms as well as fitness center/playroom combos.
  • Focus on walkability — Millennial and Boomer consumers are known to value easy access to the surrounding area’s amenities — and divorced individuals value both the sense of community and the need for easy access to schools, shopping and employment centers.  
  • Incorporate on-site services — Services can range from time-saving items such as concierge services, on-site dry cleaning and in-house housekeeping services to activities including movie nights, wine tasting events and other engaging activities that encourage social interaction and reduce the time needed to go off-property.

Wondering how to effectively communicate these demographic-friendly elements?  Talk with us about SalesTouch — CPS’ interactive touchscreen system designed to showcase your property, features and amenities!

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