A recent study of 27,642 apartment residents nationwide, who self-identified their apartment lifestyle preferences in an exclusive survey by J Turner Research in partnership with Multifamily Executive, highlighted some interesting trends in apartment living. According to the industry Report, “Resident Lifestyle Preferences: An Insight,” 25 percent of the residents are renters by choice, noting they prefer to live in an apartment rather than a house. Of this 25 percent, again, Millennials are the front-runners (41 percent), followed by Gen Xers (27 percent).
As Millennials increasingly choose to rent, the search for newly renovated luxury apartments in Philadelphia has continued in earnest and home decorating choices have taken center stage. “We are seeing a record number of renters hiring professional painters to brighten up their living space, hiring designers and decorators, choosing colors and making their rental less a temporary waypoint and more of a home,” noted a CertaPro franchise representative in the Greater Philadelphia area responding to a sharp increase in local demand, “we are seeing many apartment residents looking to rent luxury apartments in Philadelphia and demand for high quality residential and commercial painting throughout the Philadelphia metro area are surging.”
According to IBISWorld market research, “the remodeling industry’s foundation shook as the housing bubble burst, with several factors contributing to discourage consumers from spending on home improvements. During the five years to 2019, industry recovery will be driven by improvements in employment and per capita disposable income.”
The Mutlifamily Executive Report focused on other lifestyle features of interest to apartment residents. Apartment residents are increasingly focusing on environmental and green features according to the Report, on a scale of 1 to 10, respondents top choice among green features were energy-efficient appliances (8.33); walkability, at 8.10; recycling (7.76); sustainable energy (wind/solar), (7.13); and low-flow toilets (6.91), ranking last.
This is especially good news for us here at Post Brothers Apartments in Philadelphia as we are already known throughout the industry for their focus on green building and sustainability with Philadelphia rentals that are energy and water efficient and environmentally-friendly.