RENT Magazine Q1 '23

We live in a time of change — generational and technological. These changes can affect many current markets, including real estate. In 2023, Gen Z and their predecessors, Gen Y (millennials), are driving the demand for smart apartment technology. While Boomers and Gen X are still a factor in the rental market, the number of Gen Z renters will increase as they grow up and graduate from college or find jobs. GENERATIONS AT A GLANCE HOW DEMAND FOR IOT-ENABLED TECHNOLOGY IS TRANSFORMING RENTAL PROPERTIES

GENERATIONAL DEMOGRAPHICS

Boomers

Gen X

Gen Z - Zoomers

Gen Y - Millennials

1946-1965

1966-1976

1977-1994

1995-2012

49 Million 10% Renters

41 Million 17% Renters

71 Million 45% Renters

23 Million and growing 27% Renters

Source: Statista | W J Schroer

PAGE 50

Powered by