Although smaller in share compared to the Millennials and Baby Boomers, Gen X renters are critical to apartment household formation. Relative to other age groups, more Gen X renters are likely to form households with higher incomes.

While the percentage of Americans moving in a one-year period has fallen to an all-time low, an increasing amount of renters are moving across state lines.

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.