WASHINGTON (National Association of Home Builders) – The real estate mantra, “location, location, location,” doesn’t apply just to homebuyers anymore.
According to the National Association of Home Builders (NAHB), the location of an apartment building is the most important feature for renters choosing their home. As a result, more and more developers are choosing to build in urban areas near public transit, as Millennials — the largest group of renters — seek shorter commute times and better quality of life.
Onsite fitness centers are becoming more prominent as well, with top-of-the-line equipment and yoga rooms more important than ever to renters. Common areas are also becoming more, well, common. Computer centers, media centers and lounges — previously separate spaces — are now coming together to foster more resident interaction.