The Edge Magazine Vol. 6

Sustainability is likely to become more salient, however, as Generation Z becomes a larger segment of renters. Various surveys show that Generation Z is more concerned with environmental issues compared to earlier generations, though this was already a trend with younger Millennials. In fact, in a recent Pew survey, 37% of Generation Z said that addressing climate change was their top concern. 6 While location, price and building quality will still largely determine Generation Z’s rental decisions, sustainability at the building and unit-level will offer ways of differentiating rental offerings. As Generation Z grows older and wealthier, they will have more budget to allocate towards their environmental values, so sustainability will remain key.

Generation Z pursues unique and personalized experiences—they know what they want and expect. Brands and companies that market to this generation have to understand their needs—and that includes multifamily owners. As the multifamily sector and “renterverse” continue to grow, it’s more important than ever for owners to keep these preferences in mind as Generation Z's influence will only continue to grow. EMBRACING GENERATION Z

6 https://www.pewresearch.org/ science/2021/05/26/gen-z-millennials- stand-out-for-climate-change-activism- social-media-engagement-with-issue/

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