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So Long, Geriatric Millennials. Hello, Gen Z: Meet Your New Renters

So Long, Geriatric Millennials. Hello, Gen Z: Meet Your New Renters

For a while, every single article was about Millennials. And I'm barely exaggerating. Millennials were eating too much avocado toast. (Um, it's delicious!) They were killing the wedding industry. (It's smart to get settled in your career first!) Apparently, Millennials even destroyed mayonnaise! (You know what? Not even sorry for this one. Mayonnaise is disgusting!)

Articles about Millennial renters were especially common. What were they looking for in an apartment? What amenities did they want? Were they really that different from Gen X and Boomers when it came to renting?

Well, as crazy as it sounds, while Millennials are still renting, the people in this generation are now 25 on the young end, and 40 on the older end.

There is even a term for those Millennials who were born in the early '80s: Geriatric Millennials.

Which, first of all, how DARE you!

 

(I was going to post that gif of Mindy Kaling's character Kelly from "The Office" saying that, but apparently now Gen Y is saying it's "uncool" to use reaction gifs. Sigh.)

But, second of all, that means that many of the "more mature" Millennials are starting, or have started, families and are no longer wanting to rent. According to Forbes.com, in 2015 7.6 million Millennials were homeowners. While Millennials currently still make up the largest group, in 2018 Gen Z represented 6 percent of renters, and that number continues to grow.

All that is to say: Now is the time to turn your eye to Gen Z renters!

Welcome, Gen Z Renters

The oldest members of Gen Z are currently 24. That means if Gen Zers aren't renting yet, they will be soon. (Student housing communities should already be taking note!)

Read the full blog.