In the age when people camp outside for days to get their hands on the latest iPhone, it should come as no surprise that some renters are always willing to pay premiums to live in the newest apartment properties.

The latest numbers from the American Community Survey confirm the importance of millennials for rental demand.

On-site solar heating systems are a nascent phenomenon for the nation’s apartment inventory. Although the penetration of these systems in small properties is currently much lower than at large properties, it is growing at a relatively faster pace.

Seniors are an increasingly important multifamily renter cohort, especially for smaller properties. Some retirees are choosing to downsize and rent for lifestyle reasons. Other seniors are working — and renting — longer.

Married households and families are well-represented in small property apartments. Reflecting that skew to larger households, smaller properties account for a relatively smaller share of single renters when compared to large buildings.

Education is arguably the strongest predictor of present and future levels of American workers’ income. As a result, there is a correlation between education attainment and the size of a building a renter is likely to call home. 

In this closer look at Millennial renters, we find they are well-represented in small, low-amenity properties.

Immigration plays an important role in shoring up household formation rates and housing demand in the United States. Here’s a first look at the significance of immigration on the small property rental market. 

Rents in the United States have been rising faster than incomes for several years, demanding a larger share of household budgets. In fact, nearly one-third of American renter households contribute 50 percent or more of income towards rent.

Though large coastal metros have the highest rent levels, some smaller secondary markets have been experiencing steeper rent increases. Here is a look at the Top 20 metro areas in the United States.