By Stuart Johnson
More U.S. households are renting apartments now, than at any point in the past 50 years, according to the PEW Research Center. Many of today’s renters do so by choice, citing greater flexibility in lifestyle, liquidity and maintenance. Increased mortgage rates, rising inflation and uncertain economic times all help to bolster the current multifamily rental market. While apartment leasing itself is forecasted to remain strong in 2023, the resident experience continues to evolve to better meet the needs of a growing population of renters by choice.
Renters expect convenience including online ordering, package delivery and delivery of groceries and meals. Multifamily housing design is adapting to accommodate this change in consumer behavior through secure on-site lockers, package rooms and same day package and food delivery. Smart home technologies including programmable thermostats, lighting controls, E.V. charging, smart apartment access and water saving systems are other examples of renter-expected convenience.
Work from home continues to drive demand for flexibility in unit floorplans, amenity, meeting and co-working spaces. Dedicated “Zoom Rooms,” quiet zones and unit layouts that allow for adaption to meet resident needs are a must. Along with designing social spaces that allow for residents to plug in and plug out, there is a focus on designing passive and active outdoor amenities that are livable all year long, allowing for increased resident socialization. Short-term rentals like Airbnb, creative lease terms and hospitality services are other examples of current management trends leading to convenience and flexibility.
Today’s renter is notably more focused on a sustainable lifestyle. Energy efficiency and indoor air quality greatly influence leasing decisions. Other than “LEED,” Well and Fitwell are two examples of healthy building certifications and green design initiatives being incorporated in new multifamily design and construction. Sustainable initiatives such as community gardens, composting, recycling and the “sharing economy” are all current trends acting to reinforce the community living experience.
Mixed-use and “downtown” development encourages the social and environmental connection found in healthy and active lifestyles. Key ingredients for placemaking of new urban and suburban centers include walkable streets, access to public transportation, open greenspace, flexible amenities and sustainable housing and food options. These elements have become increasingly important to renters who find value living in walkable neighborhoods providing shorter commute times and a more balanced and active lifestyle. New mixed-use projects including the conversion of existing office and retail centers, parking lots and underutilized land parcels allow for the design and placemaking of new communities with strong social networks centered around live, work and play.
Minno & Wasko Architects and Planners is proud to be collaborating with our clients and consultants to lead in these design innovations and we are excited to see how the future of multifamily living will continue to evolve.