Renters today span every generation, but not all of them have the same priorities and preferences. Using data from the Zillow Group Consumer Housing Trends Report, we’ve prepared a few quick stats that make each cohort unique.

Use the Download button to get the infographic. And for a deeper dive, you can also download our free renter fact sheet for even more data about renters and their expectations.

Gen Z

Gen Z is the most likely to consider apartment living

Gen Z (ages 18 to 23), with its relatively limited rental and credit history, tends to gravitate toward apartments, regardless of the size of the building or complex. Nearly three-quarters (74%) of Gen Z renters consider apartments.

Takeaway: Your rental marketing should highlight the benefits of an apartment lifestyle.

Money is an issue for Gen Z

More than half (52%) of Gen Z renters choose a furnished home: 34% opt for partial furnishing, and 19% go for a fully furnished rental — a sign of their youth and possibly modest means at this age.

Takeaway: Be patient with this group’s questions about additional costs and utilities, along with their need to consult with others who will be living with them in their new place.

Gen Z renters will keep in contact

Gen Z, the youngest and most diverse generation, is also the most persistent — 60% of Gen Z renters will pursue a listing with a follow-up call or email.

Takeaway: Gen Z renters won’t hesitate to hunt you down for the information they need about your properties. As part of your rental marketing efforts, keep your property listings up-to-date and be available — or these renters will quickly move on.

If motivated, Gen Z could be with you for a long time

More than half (62%) of all renters who plan to move within a year say they expect to move into another rental. At 73%, Gen Z renters are most likely to rent again.

Takeaway: Think long term. Invest the time and effort to engage these younger renters so that they’ll be open to renewing their lease with you.

Gen Z is judging you

Younger renters tend to value online reviews of buildings more highly than older renters — 50% of Gen Z renters find online reviews very or extremely important.

Takeaway: Reviews are key! Encourage renters to share their thoughts about you and your property online. Post reviews as soon as you get them and respond to every single one.

Millennials

Millennials prefer a smaller building

While renters cast a wide net in terms of home types, each generation tends to have different preferences. Millennials (ages 24 to 38) express an inclination for apartment buildings with fewer than 10 units (32% consider them).

Takeaway: Play up the exclusivity of a smaller building and the one-on-one attention you provide your renters.

Millennials still want to own their own home

Half (52%) of millennial renters say they thought about buying a home during their last move, which is typically prompted by life events and rent increases.

Takeaway: Your rental marketing should promote the specific benefits that your property offers. For example, if your rental offers proximity to public transportation, shopping and other convenient amenities, highlight it in your marketing.

Gen X

Gen X scrutinizes their bottom line

Gen X renters (ages 39 to 53) are the most financially vulnerable: Only 44% say they could weather a $1,000 hit to their budget.

Takeaway: When marketing to Gen X renters, highlight features and services that are included in the rent or exclusively available at discounted rates to renters.

Baby boomers

Baby boomers want to see for themselves

In-person tours are helpful to most renters but especially to older ones: 68% of baby boomers (ages 54 to 73) find them very or extremely important.

Takeaway: Spend the time to understand what these older renters want from a property. 

Energy efficiency matters to baby boomers

Older renters are more inclined to favor energy-efficient features, likely because of the cost savings on utilities at a time when many are living on fixed incomes. Energy-efficient features are very or extremely important to 48% of baby boomers.

Takeaway: Tout the energy- and money-saving benefits of your unit.

Silent generation

Silent generation renters value the personal touch

Older renters place high value on meeting or speaking with the landlord or property manager — 76% of silent gen renters (ages 74+) rate the personal touch as extremely or very important in their decision.

Takeaway: Don’t send an assistant to meet with these older renters when they want to meet with you; meet with them personally, listen to their needs and answer their questions in full.

Location is critical to silent generation renters

Neighborhood preference matters most to the oldest generation: 66% of silent gen renters rate neighborhood suitability as extremely or very important — the highest of any generation.

Takeaway: When marketing to renters of the silent generation, promote all the great features your neighborhood has to offer, such as walkability and proximity to shopping and leisure.

Want to learn more? Download our free renter fact sheet for additional information about renter preferences and expectations, so you can make more informed decisions when deciding how to most effectively market your property.