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
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