Apartment Trends
Apartment trends reflect the changing tastes and lifestyle preferences of renters. Depending on the location and amenities offered, apartment rental rates can vary considerably. Although residents in each location may have varied budgets, tastes, and desires, some apartment trends remain consistent across the nation.
Most Important Features
The location of an apartment building continues to be the most important feature for renters, according to the National Association of Home Builders. In addition, renters want short commute times, open amenity-filled common areas, fitness facilities, and outdoor gathering areas.
Location
According to the National Association of Home Builders, apartment renters want reduced commute times and enhanced quality of life. They are looking for properties with ready access to nearby restaurants, coffee shops, grocery stores, and etc. Developers are responding to the demand by building in areas along transportation lines.
Common Areas
Common areas with varied amenities are essential in larger properties. Renters are drawn to open common spaces which combine multiple functions within one area. Spaces such as mail and package receiving, lounge, community kitchen, and rec room are located in open flowing spaces which fosters resident interaction.
Large fitness centers with up-to-date equipment and a mat area for floor exercise are in demand. Fitness centers are no longer hidden away – now they are front-and-center featuring outside views.
Outdoor Living
Apartment residents want to gather with friends and neighbors to cook outdoors, swim and enjoy an outdoor fire on a cool evening. Apartment developments that reflect the changing tastes and lifestyle choices of today’s renters are desirable.
Additional Apartment Trends
Architects and apartment developers respond to changing tastes and lifestyle preferences by including these desired features into new apartment projects:
- Transportation – bicycle parking, covered auto parking, and rapid transit.
- Technology – connectivity, wireless access, large monitors, smart appliances, programmable devices and thermostats, app-based tools, security features, keyless locks, and USB outlets.
- Green Living – water-saving devices, energy-efficient appliances, green roofs, and recycling programs.
- Space – open concept, high ceilings, big windows, multi-purpose rooms, and pet-friendly.
- Materials – natural materials, luxury finishes, and options for personalization.
- Online Shopping – package receiving, package storage and refrigeration, package delivery
As architects, we respond to the changing tastes and lifestyle preferences of renters by incorporating the desired features into our new apartment projects. Regardless of the project location, some features are consistently ranked as highly desired among apartment renters: good location, common areas and outdoor living features.
