Millennials - The Growing Tenant Base: Multi-Family Infographic 2012-2013
According to Generational Project Group, Millennials (also know as Generation Y-ers) were born between 1980 and 2000 and comprise about 20 percent of today’s U.S. population, almost equaling the number of Baby Boomers in the nation. Collectively,
Millennials have a purchasing power of $200 billion. With half of them currently in the workforce—and all under the age of 30—Millennials make prime rental candidates.
However, the generation’s differences mean you may have to rework your traditional marketing strategies in order to take advantage of this group’s renting power.