Fountain Valley Residential Property Management Experts Discuss What the Different Generations Want from an Apartment

Looking for the perfect apartment is challenging enough, but this seemingly endless search gets even more interesting when what’s considered “perfect” varies among the different generations.

When it comes to today’s various generations or age groups, not everyone wants the same things in terms of their living environment and home in the Fountain Valley area.

Learn more about what each generation is seeking from their rental from our residential property management experts, so you have a better idea of what people are looking for when you rent your property.

The Millennial and Gen Z Age Groups

If you’re renting to the younger age groups, their priorities will be much different than those in the boomer age group. Generation Z consists of renters in their early to mid-20s, and most are either college students or they’ve recently graduated and are just starting a career in or around Fountain Valley.

While people in these two generational groups are typically new to renting, it doesn’t mean that they don’t know what they want in an apartment. In fact, most younger renters are concerned with things like location and amenities as they search for the perfect place.

If you’re marketing specifically to this group, make sure you include online advertisements, since most will be looking on the internet before they head out to grab the latest newspaper. An apartment with common areas like a gym or swimming pool are popular among the Gen Z age group.

Both Millennials and Generation Z put environmentally friendly features at the top of their list, too. Energy-efficient apartments and amenities rank quite high on these generations’ lists.

The Millennial age group is closer to those in their late 20s to early 40s, and they’re also quite environmentally and tech-savvy. While features and location are still important to Millennials, the monthly rent cost seems to be at the very top of their list.

Millennials want stability in their housing since they’re likely overwhelmed with balancing student loans or a new family. They’re also more willing to move to another location based on their career, while Generation Z tends to prefer sticking closer to home.

If your property is close to nightlife, shopping, restaurants, and entertainment in Fountain Valley, these two younger age groups will likely be interested in renting there. Access to public transportation is also a big plus.

What About Generation X?

Somewhere between the Boomer age group and Millennials is Generation X, or Gen Xers. This demographic grew up in the early 1980s and 90s, and they’re also quite savvy with technology. Today, they make up approximately 27-percent of the population.

While younger renters are just starting out in their careers, Generation X is more established. Many people in this age group already have a stable income, and most prefer to own a home in the Fountain Valley area rather than rent an apartment or condo.

Some Gen-Xers are still renting because they simply haven’t found the right home for their families yet. When marketing to this age group, make sure you can provide tenants with high-speed internet service and a prime, central location close to basic amenities.

A large portion of Generation X was able to secure a home before the 2008 housing crisis. Those who were unable to buy typically prefer renting a detached, single-family home. This generation likes its space over living together as a group in tight quarters.

The Boomer Age Group

Baby Boomers, known as Boomers for short, are part of an older generation of renters and homeowners. As this age group gets older, many prefer to downsize from their empty nest and want to move into a smaller place, such as a townhome.

When you look at the US population by age group, Boomers account for about 76 million people. This group was born between the years 1946 and 1964, a result of the population boom after World War II.

If you’re renting to Boomers, you’ll want to make sure that you provide them with a few important must-haves, such as communal areas and a nice, safe neighborhood in Fountain Valley. Many would like to be able to walk to amenities such as grocery shopping or the local drug store.

When the kids move out, much of the Boomer age group is ready to rent and enjoy a maintenance-free home. Providing services like landscaping and trash removal are at the top of this generation’s list.

Boomers have worked hard for most of their lives, so when they’re ready to rent, they want a place that’s easy to care for and stress-free. Providing them with services that will make their lives easier and simpler is a big draw.

Access to a 24-hour repair service is definitely a perk for Boomer renters. The convenience of having help when you need it and assistance at your fingertips is a major want for people of this generation.

Property that’s close to major highways or roads is another important must-have for Boomers. Being able to visit loved ones and get fast access to shopping and doctor’s offices are key.

Know Your Renters in Fountain Valley

Once you know what the various age groups are looking for in an apartment, it’s much easier to market your property accordingly. Research the largest demographic in Fountain Valley to help you cater to those specific groups and secure happy tenants.

Whether it’s an eco-friendly building or on-call repair services, this information will help you tailor your rental property according to each generation’s wants and needs.

When you’re ready to get help with your property management needs, be sure to contact us today.