by Paul Willis
It seemed like a natural progression of life. Finish school, move out of the parents’ house to an apartment, then eventually purchase a dream home.
That isn’t necessarily the desired path for those of Generation Z…
“Gen Z on the Lease,” a recent Entrata report produced in collaboration with Qualtrics, offers a detailed look into the preferences and ambitions of Gen Z renters—and homeownership doesn’t appear to be a high priority. The report, based upon a survey of 2,000 renters, found that 72% of Gen Z renters view renting as a smarter choice and better financial approach than homeownership.
With that in mind, rental housing operators would be wise to cater efforts toward this subset, which largely views renting as more than a temporary option. Members of Gen Z (born from 1997 to 2012) are already firmly amidst the rental landscape, of course, but many more will be arriving in the next decade—along with their unique preferences.
Read Paul Willis’ article in Units Magazine.