According to CustomMade.com, more than 50% of 18 – 34-year-olds (Millennials and Generation Z) are renting because they can’t afford a down payment. Those same generations are keen to smaller living spaces. Soren Rose reported to CNN that “tiny is inevitable,” smaller homes are attractive and novel, they combine form, function, and freedom. All necessary in today’s market. The main idea is to have “experiences” over “stuff.”
In my opinion, multifamily owners/developers should be building simple living for rent. Tiny apartment homes lined up in a community. They should offer property management and common amenity areas that duplicate standard apartment living. There is already a dense tiny home presence in CA, CO, TX, WI, and FL. Why not? The movement promotes financial prudence and allows for a shared community ‘experience’. On the renter and ownership side – if you weren’t sure about it before, perhaps it’s worth exploring.
Blue Pine Construction Corp. specializes in new construction, renovation and insurance claim services for multi-family housing.