Buildium and the National Association of Property Managers recently published their fifth annual State of the Property Management Report. The 190+ page report surveys thousands of residents, owners, and managers to gather insight on new trends. Here’s a look at Gen Z, Millennial, Gen X, and Baby Boomer Renters and their moving trends.
Gen Z Moving Trends (Born Between 1997 and 2012)
- Times Gen Zers Have Moved in the Last 5 Years
- Distance Gen Zers Moved Most Recently
- Stayed in the same city- 5%
- Moved elsewhere- 5%
- Likelihood Gen Zers Will Move Next Year
- Staying Put- 1%
- Undecided-6%
- Moving when Lease is Up- 3%
Millennial Moving Trends (Born Between 1981 and 1996)
- Times Millennials Have Moved in the Last 5 Years
- Distance Millennials Moved Most Recently
- Stayed in the same city- 8%
- Moved elsewhere- 2%
- Likelihood Millenials Will Move Next Year
- Staying Put- 8%
- Undecided-4%
- Moving when Lease is Up- 8%
Gen X Moving Trends (Born Between 1965 and Early 1980)
- Times Gen Xers Have Moved in the Last 5 Years
- Distance Gen Xers Moved Most Recently
- Stayed in the same city- 9%
- Moved elsewhere- 1%
- Likelihood Gen Xers Will Move Next Year
- Staying Put- 3%
- Undecided-3%
- Moving when Lease is Up- 4%
Baby Boomer Moving Trends (Born Between 1946 and 1964)
- Times Baby Boomers Have Moved in the Last 5 Years
- Distance Baby Boomers Moved Most Recently
- Stayed in the same city- 6%
- Moved elsewhere- 4%
- Likelihood Baby Boomers Will Move Next Year
- Staying Put- 53%
- Undecided-6%
- Moving when Lease is Up- 4%
As a rule of thumb, Millennials are the most transient and Baby Boomers are the most stable. Does any of the surprise you? For tips on how to market to the different generations, see our blog post, “Generations of Renters and How to Attract Them.”
For more insights on the rental market, see our “Rental Market Research” blog category.