Microunit Communities Offer Starting Point for Gen-Z Renters
Microunit communities are taking over the multifamily sector to meet the needs of Generation Z, the youngest renter demographic. Microunit communities include rental units that range in size from 350 square feet to 500 square feet and feature walkable neighborhoods and amenities such as fitness centers, pools, and dog parks, all at an affordable price point, the National Association of Home Builders (NAHB) reports.
Best of all, microunit community development is becoming more prevalent in pricey markets with few options for first-time renters, allowing younger generations to ease their way into the rental market with low-cost housing options.
"A microunit community is a rental community where the one-bedroom units range from 350 square feet to 500 square feet," explained Sanford Steinberg, AIA, CGP, of Steinberg Dickey Collaborative LLP during the most recent Design Bites segment. Many in major metro areas would call this a studio, but these products are now becoming popular in markets where it hasn’t been a standard because of rising costs and rents.
"This is now creating an opportunity for the young consumer to get into the rental market," he added.