Evolving Resident DemographicsMarketing to the Millennial & Baby Boomer Generations
July 2011
Evolving Resident Demographics
Reaching RentersWhich two social media channels do you use most frequently?
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Table of Contents
3 About J Turner Research
4 Objective and Value
4 About the Survey
4 Key Findings4 Reaching Renters5 Rental Preferences
5 Demographic Breakdown
6 Reaching Renters6 Which two social media channels do you use most frequently?7 Have you ever visited an apartment community’s social networking page on Facebook, MySpace, Twitter, LinkedIn, Orkut, etc.?8 What are the three primary sources you used to find your current apartment community?9 If you had to choose a single source for your apartment search, which would you choose? 10 Select two of the following responses which best describe “word of mouth” from your perspective.
11 Rental Selection Criteria11 What was the most important factor influencing your decision to rent at your community? 11 Price Point
12 Apartment Lifestyle Preferences12 What three aspects of the “Apartment Lifestyle” were you looking for in a community?13 Apartment Lifestyle
14 Communication with the Community14 How would you prefer the community communicate with you?15 How would you communicate with the community about a maintenance request or problem?16 What kind of community sponsored events do you participate in?
17 Amenity, Feature and Service Preferences17 Friends versus Amenities: If you had to choose between one of the following communities, which would you choose?18 Which are the five most important common area amenities to you?19 Which are the five most important apartment amenities to you?20 Which are the five most important community amenities to you?
Reaching RentersWhich two social media channels do you use most frequently?
3 of 20
About J Turner Research
Based in Houston, J Turner Research specializes in developing and executing innovative and affordable research services for the multifamily industry. The company utilizes email based surveys to accurately measure perceptions of prospects and current residents to optimize operational and marketing efficiencies. With its monthly resident satisfaction trending and real time prospect feedback, J Turner Research provides real time operational intelligence to ownership.
J Turner Research also has developed a new social media application which provides frequent, original resident content to property Facebook pages.
For more information, please call (281) 558-4840 or visit www.jturnerresearch.com.
Reaching RentersWhich two social media channels do you use most frequently?
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Objective and Value
The purpose of this study is to determine the attitudes and views of renters across different generational demographics. With the speed of technology today, there is a schism between how different generations want to be communicated with, what they view as important in their communities, how they view amenities and what determines their decision to rent.
The data in this study offers insight about each generation of apartment renter. The survey covered residents from the millennial generation to “The Silent Generation,” and measures preferences, perspectives and values related to apartment search and rental life. Insights from this study enable operators of apartment communities to target their message and marketing to generational subsets and developers of communities by knowing what prospects are seeking.
Key Findings
The Millennial Generation, ages 18-30, dominated with 47 percent of respondents, indicating they are the generation that apartment owners should target in marketing and communications.
Reaching RentersVisiting a property’s social networking page is becoming more common, especially at properties that are actively engaged in social media.
• Facebook is the most popular social media channel across all generations. Twitter is a distant second but more popular with the younger generation. • “Drive-by” ranks across all generations as a popular source used to find apartments but is more important to the older generations. • Internet marketing is the source least used by the older generation. • Craigslist is used by Millennials by a significant margin over Baby Boomers (ages 45-65) and the Silent Generation (ages 66+). • Word-of-mouth is the single most important source for the Silent Generation respondents.
About the survey
This study was presented to an educational session of the National Apartment Association in June 2011. With the help of DEI Communities and Forest City Residential portfolios, a 14-question, email survey was distributed to 12,646 residents at 71 communities nationwide. J Turner Research secured 4,275 responses representing a 33 percent response rate. Some material enclosed is from a two year on-going survey tracking trends in apartment resident use of social networking as well.
For the purpose of the survey the population was divided into the following generation demographics:
• Millennial Generation (Ages 18-30) • Generation X (Ages 31-44)
• Baby Boomer Generation (Ages 45-65) • Silent Generation (Ages 66+)
Reaching RentersWhich two social media channels do you use most frequently?
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Key Findings [cont.]
Demographic Breakdown
Rental PreferencesThe decision to rent is based primarily on location. Price matters less to older survey participants by almost two to one. Renters in general like to communicate by email with the management office. However, they prefer to have more direct contact with the staff (phone and face-to-face) when communicating situations that are important to them, such as maintenance requests and concerns.
Regarding common area amenities, fitness center and parking, rank the highest. The top amenity preferences, within the unit, boil down to stainless steel appliances for younger respondents and window coverings for older respondents.
There are many common wants and needs among all generations, but it is recognizing the differences between them that can help operators and managers target messages that will appeal to a particular group. There is an opportunity to establish “prospect profiles” based on this data. Understanding unique audiences enables better marketing strategies for more productive leasing.
0% 25% 50%
3%
20%
30%
47%Millennial Generation {Ages 18-30}
Generation X {Ages 31-44}
Baby Boomer Generation {Ages 45-65}
Silent Generation {Ages 66+}
N = 4,275
Evolving Resident Demographics
6 of 20
Reaching RentersWhich two social media channels do you use most frequently?
Facebook is the clear choice among all demographic groups, with Twitter strongest among the younger generations.
Facebook Usage50%
0%
100%
40%
73.15%83.38%91.00%97.03%
Mill
enni
al G
ener
atio
n
Gen
erat
ion
X
Bab
y B
oom
er G
ener
atio
n
Sile
nt G
ener
atio
n
Twitter Usage
21.30%18.38%24.90%35.86%
Mill
enni
al G
ener
atio
n
Gen
erat
ion
X
Bab
y B
oom
er G
ener
atio
n
Sile
nt G
ener
atio
n
92%
30%
30%
29%
9%
Other
MySpace
By Demographic
Overall
100%
0%
97%
36%
27%
Face
book
Twit
ter
Link
edIn
Millennial Generation
83%
34%
18%
Face
book
Twit
ter
Link
edIn
Baby Boomer Generation
73%
23% 21%
Face
book
Twit
ter
Link
ed
In
Silent Generation
91%
34%
25%
Face
book
Twit
ter
Link
edIn
Generation X
Evolving Resident Demographics
Reaching Renters
7 of 20
Have you ever visited an apartment community’s social networking page on Facebook, MySpace, Twitter, LinkedIn, Orkut, etc.?
Aggregate
Not Active Properties
Active Properties*
20%
20%
20%
25%
30%
15%
15%
15%
10%
10%
10%
5%
5%
5%
0%
0%
Jan
2010
Feb
2010
Mar
201
0
Apr 2
010
May
201
0
Jun
2010
Jul 2
010
Aug
2010
Sept
201
0
Oct
201
0
Nov
201
0
Dec
201
0
Jan
2011
Feb
2011
Mar
201
1
Apr 2
011
May
201
1
Jun
2011
Jul 2
011
Aug
2011
0%
*Active Properties are engaged in social media (primarily Facebook and Twitter). Visitors to an apartment community’s social networking page are increasing, particularly for highly engaged properties.
7%
7% 7%
9%
5% 6% 6%
7%
9% 9%10%
10%
10% 10%
12%14%14% 14%
16% 16%
12%
18%
16%
25%23%
21% 21%
23%
10% 10%11% 12% 12%
16% 16%17%
15% 15%
5% 6% 6% 6% 6%
Evolving Resident Demographics
8 of 20
Reaching RentersWhat are the three primary sources you used to find your current apartment community?
All generations except the Silent Generation clearly prefer searching for apartments on the Internet. Drive-by is still important for all generations,
but is more important for Baby Boomers and the Silent Generation.
Craigslist has significantly higher following among younger renters, and practically no importance for the Baby Boomers or Silent Generation.
Craigslist Across Demographics
0%
12%
>1%4%10%
11%
Mil
lenn
ial G
ener
atio
n
Gen
erat
ion
X
Bab
y B
oom
er G
ener
atio
n
Sile
nt G
ener
atio
n
Internet Search Engines
Apartment Listing Sites
Drive-By/Walk-In
Word-of-Mouth
Apartment Review Sites
Craigslist
Apartment Magazines
Other
Community Website
Newspaper Classifieds
Smartphone/Mobile Search
73%
56%
46%
36%
22%
20%
16%
10%
7%
6%
4%
3%
0% 80%
By Demographic
Overall
78%
74%
63%68%
60%
55% 57% 59%
40% 45%50%
43%
100%
0%
Inte
rnet
sea
rch
engi
nes
Inte
rnet
sea
rch
engi
nes
Inte
rnet
sea
rch
engi
nes
Dri
ve-b
y
Dri
ve-b
y
Dri
ve-b
y
Apa
rtm
ent l
isti
ng s
ites
Apa
rtm
ent
listi
ng s
ites
Apa
rtm
ent l
isti
ng s
ites
Apa
rtm
ent l
isti
ng s
ites
Dri
ve-b
y
Wor
d of
Mou
th
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
Evolving Resident Demographics
9 of 20
Reaching RentersIf you had to choose a single source for your apartment search, which would you choose?
By Demographic
Internet Search Engines
Apartment Listing Sites
Drive-By/Walk-In
Word-of-Mouth
Craigslist
Apartment Review Sites
Apartment Magazines
Other
Community Website
Newspaper Classifieds
Smartphone/Mobile Search
31%
26%
10%
10%
9%
6%
3%
2%
1%
1%
1%
0%
0% 35%
Overall
40%
0%
Inte
rnet
sea
rch
engi
nes
Inte
rnet
sea
rch
engi
nes
Inte
rnet
sea
rch
engi
nes
Inte
rnet
sea
rch
engi
nes
Apa
rtm
ent l
isti
ng s
ites
Apa
rtm
ent l
isti
ng s
ites
Apa
rtm
ent
listi
ng s
ites
Apa
rtm
ent l
isti
ng s
ites
Cra
igsl
ist
Dri
ve-b
y
Wor
d of
mou
th
Cra
igsl
ist
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
31% 32%31%
21%
28%
26% 26%
17%
11%
10%
14%
23%
Evolving Resident Demographics
10 of 20
Reaching RentersSelect two of the following responses which best describe “word of mouth” from your perspective.
By Demographic
A One-on-One Interaction with a Trusted Friend, Colleague or Family Member
An Interaction with a Group of Individuals in a Social Setting
A One-on-One Interaction with a Person or Acquaintance I Don’t Know Very Well
Researching Comments and Posts on Websites Featuring Reviews on Products
or Services from Individuals I Don’t Know
An Interaction with a Group of People I am Connected to via Social Media
like Facebook or Twitter
Information I Gather from Traditional Broadcast and Media Outlets
Other
85%
43%
27%
24%
11%
8%
3%
0% 100%
Overall
85% 85%83%
80%
46%
40% 40%38%
30%26%
24% 23%
100%
0%
A A A AB B B BC C C C
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
A A One-on-One Interaction with a Trusted Friend, Colleague or Family MemberB An Interaction with a Group of Individuals in a Social SettingC A One-on-One Interaction with a Person or Acquaintance I Don’t Know Very Well
Evolving Resident Demographics
11 of 20
What was the most important factor influencing your decision to rent at your community?
Rental Selection Criteria
Location is the primary decision factor to rent across all demographics, with high quality units ranking as the second determining factor. Price point is less important for Baby Boomers than for any other demographic.
Price Point0%
30%
22.45% 17.79% 12.82% 17.39%
Location
High Quality Apartments/Units
Price Point
Other
Community Amenities
Referral from Friend
None of the Above
Positive Online Reviews about the Community
36%
26%
19%
6%
5%
3%
2%
2%
0% 40%
By Demographic
Mil
lenn
ial G
ener
atio
n
Gen
erat
ion
X
Bab
y B
oom
er G
ener
atio
n
Sile
nt G
ener
atio
n
Overall
33%37%
42%
39%
27% 28%
22%25%
22%
18%
13%17%
50%
0%
Loca
tion
Loca
tion
Loca
tion
Loca
tion
Hig
h qu
alit
y un
its
Hig
h qu
alit
y un
its
Hig
h qu
alit
y un
its
Hig
h qu
alit
y un
its
Pri
ce p
oint
Pri
ce p
oint
Pri
ce p
oint
Pri
ce p
oint
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
Evolving Resident Demographics
12 of 20
What three aspects of the “Apartment Lifestyle” were you looking for in a community?
Apartment Lifestyle Preferences
Location - Proximity to Work or Transportation
Value for Price
Condition and Quality of my Living Space
Quiet Place to Live
Maintenance-free Living (community manages all repairs or issues with my apartment)
Location - Proximity to Restaurants/Bars/Shopping
Location - Proximity to Family and/or Friends
Location - Proximity to Schools/Hospitals
Social Activities within a Community
Downsizing Lifestyle from Previous Home Ownership
Other
Opportunity to Meet New People with Similar Interests
Wanted/Needed to Move Out of My Parent’s House
46%
46%
61%
45%
33%
26%
4%
3%
10%
9%
7%
5%
5%
60% 80%0% 20% 40%
Overall
Evolving Resident Demographics
13 of 20
Location continues to be an important lifestyle aspect for most demographic categories, however it is of lesser importance for the Silent Generation. A quiet place to live and maintenance-free living move up in importance for older renters.
Apartment Lifestyle: Second Choices
By Demographic60%
60%
0%
Loca
tion
Loca
tion
Loca
tion
Qui
et p
lace
to li
ve
Qui
et p
lace
to li
ve
Val
ue fo
r pr
ice
Val
ue fo
r pr
ice
Con
diti
on &
qua
lity
of
my
livin
g sp
ace
Con
diti
on &
qua
lity
of
my
livin
g sp
ace
Con
diti
on &
qua
lity
of
my
livin
g sp
ace
Mai
nten
ance
-free
livi
ng
Mai
nten
ance
-free
livi
ng
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
63% 62%
56%53% 53%
45% 45%49%45%
43% 42%
Apartment Lifestyle Preferences
0%
60%41.18% 27.26%52.70% 42.84%
Bab
y B
oom
er G
ener
atio
n
Bab
y B
oom
er G
ener
atio
n
Mill
enni
al G
ener
atio
n
Mill
enni
al G
ener
atio
n
Quiet Place to Live Maintenance-free Living
Evolving Resident Demographics
14 of 20
How would you prefer the community communicate with you?
Communication with the Community
By Demographic
Text Message
Landline Phone
In-Person Visit
Letter Outside and/or Under My Apartment Door
None of the Above
Other
Community Portal
Mobile Phone
Email 71%
12%
8%
3%
1%
1%
1%
1%
1%
0%
0%
60% 80%0% 20% 40%
Overall
72% 74%
67%
54%
11% 11%16%
23%
10%7% 6% 9%
100%
0% A
A Email B Letter Outside Apartment Door C Mobile Phone D Landline Phone
A A AC C C DB B B B
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
Evolving Resident Demographics
15 of 20
How would you communicate with the community about a maintenance request or problem?
Communication with the Community
Communication preferences boil down to this, residents want you to communicate with them by email, but they want to communicate with you more directly by phone or face-to-face.
By Demographic
Walk Over to the Leasing Office
Email the Leasing Office
Send a Message Through the Community Portal
Other
Text the Leasing Office
Post your Problem/Complaint on Facebook or an Apartment Review Website
Call the Leasing Office 45%
21%
18%
13%
3%
1%
0%
60%0% 20% 40%
Overall
44% 43%51%
21%
31%
17% 20%
9%
60%
0%
Cal
l
Cal
l
Cal
l
Cal
l
Em
ail
Em
ail
Em
ail
Em
ail
Wal
k ov
er
Wal
k ov
er
Wal
k ov
er
Wal
k ov
er
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
21%
48%
21%
16%
Evolving Resident Demographics
16 of 20
What kind of community sponsored events do you participate in?
Communication with the Community
Social Mixers
Pool Parties
Movie Night
Organized Fitness Classes
On-Site Charitable Functions
Volunteer Opportunities
I Do Not Participate 56%
26%
16%
10%
9%
8%
7%
60%0% 20% 40%
Overall
By Demographic
60%
52% 54% 53%
28% 28%34%
17% 19%
12% 12%
60%
0%
I do
not
par
tici
pate
I do
not
par
tici
pate
I do
not
par
tici
pate
I do
not
par
tici
pate
Poo
l pa
rtie
s
Poo
l pa
rtie
s
Poo
l pa
rtie
s
Org
aniz
ed
fitne
ss
clas
ses
Soci
al m
ixer
s
Soci
al m
ixer
s
Soci
al m
ixer
s
Soci
al m
ixer
s
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
23%
Evolving Resident Demographics
17 of 20
Friends versus Amenities: If you had to choose between one of the following communities, which would you choose?
Amenity, Feature and Service Preferences
By Demographic
Millennial Generation
76%24%
Overall
80%20%
Generation X
82%
18%
Silent Generation
87%
13%
Baby Boomer Generation
87%
13%
A community where my friends live but doesn’t offer all the amenities I want
A community that offers all the amenities I want, but I don’t know anyone else who lives there
Evolving Resident Demographics
18 of 20
Which are the five most important common area amenities to you?
Amenity, Feature and Service Preferences
Parking
Fitness Center
Outdoor Pool
Additional Storage
Access to Walking/Bike Paths
Central Wi-Fi
Indoor Pool
Fireplace/Outdoor Living Space
Hot Tub
Extended Common Living Room Space
81%
81%
54%
37%
36%
36%
27%
26%
20%
16%
100%0%
Dog Park
Movie/Media Room
Bike Storage
Business Center
Tennis Court
Yoga Studio
Conference Room
Ability to Reserve a Dining Space
Dog Wash Area
15%
15%
12%
11%
10%
8%
7%
6%
3%
100%0%
By Demographic
Although most commonly desired area amenities are shared across all generations, there are slight nuances between age groups. Leasing staff should emphasize the differences to the prospects from their perspective age groups. For example, Millenials want to hear that the property has central Wi-Fi and then the other amenities, while Baby Boomers want to hear about additional storage. Lead with the generational difference.
Top 5 Common Area Amenities
83% 81% 83%
78%81% 82%
76%
68%
59%
54%
48%53%
100%
0%
Millennial Generation
#1 Fitness Center
#2 Parking
#3 Outdoor Pool
#4 Central Wi-Fi
#5 Access to Walking/ Biking Paths
Baby Boomer Generation
#1 Parking
#2 Fitness Center
#3 Additional Storage
#4 Outdoor Pool
#5 Access to Walking/ Biking Paths
Fitn
ess
cent
er
Fitn
ess
cent
er
Fitn
ess
cent
er
Fitn
ess
cent
er
Par
king
Add
itio
nal s
tora
ge
Add
itio
nal s
tora
ge
Par
king
Par
king
Par
king
Out
door
poo
l
Out
door
poo
l
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
Overall
Evolving Resident Demographics
19 of 20
Amenity, Feature and Service PreferencesWhich are the five most important apartment amenities to you?
By Demographic
Although most apartment unit amenity requirements are shared across all generations, there are slight nuances between age groups. As with common area amenities, leasing staff should emphasize the differences to the prospects from their perspective age groups. For example, Millennials want to hear that the property has stainless steel appliances as well as the other amenities while Baby Boomers want to hear about window coverings.
Top 5 Apartment Amenities
Millennial Generation
#1 Walk-In Closets
#2 In-Unit Laundry
#3 Balcony
#4 All Utilities Included
#5 Stainless Steel Appliances
Baby Boomer Generation
#1 In-Unit Laundry
#2 Walk-In Closets
#3 Balcony
#4 All Utilities Included
#5 Window Coverings/Blinds
Walk-In ClosetsIn-Unit Laundry Facilities
Balcony/Outdoor AreaAll Utilities Included
Storage PantryStainless Steel Appliances
Wood FlooringOversized Kitchen
Window Coverings/BlindsCarpeting
Gas CookingUpgraded Lighting Fixtures
Kitchen IslandCeramic Tile in Bathrooms
Wall Mount for Flat Screen TVBuilt in Bookshelves
Double Sinks in Master BathDouble Basin Sinks
Hard Wiring for Telephones
70%
70%
52%
45%
33%
31%
31%
30%
30%
24%
22%
13%
12%
11%
8%
7%
6%
4%
3%
0% 80%
Overall
70% 73% 72%68%69% 70% 68%
66%
53%49% 52% 50%
100%
0%
Wal
k-in
clo
sets
Wal
k-in
clo
sets
Wal
k-in
clo
sets
Wal
k-in
clo
sets
Bal
cony
/out
door
area
Bal
cony
/out
door
area
Bal
cony
/out
door
area
Bal
cony
/out
door
area
In-u
nit l
aund
ry
In-u
nit l
aund
ry
In-u
nit l
aund
ry
In-u
nit l
aund
ry
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X
Evolving Resident Demographics
20 of 20
Which are the five most important community amenities to you?
Amenity, Feature and Service Preferences
Overall
By Demographic
Copyright © 2011 by J Turner Research, LP. All materials are the copyrighted works of J Turner Research, LP. All Rights Reserved.
24-Hour Service Request Guarantee
24-Hour Security 85%
80%
29%
29%
29%
40%
53%
71%
23%
18%
15%
10%
8%
4%
4%
100%0%
Online Payments
Package Delivery Services
Apartment Cleaning Services
Organized Fitness Classes
Coffee/Breakfast Bar
Concierge Services
Organized Community Social Events
Apartment Painting Services
Social Media that share Community Activities
On-Site Charitable Functions/Volunteer Opportunities
Fluff and Fold Services
Dog Walking Services
Plant Watering Services
84% 84% 86% 88%
80% 80% 78%
87%
75% 75%
61%
51%
100%
0%
24-h
our
secu
rity
24-h
our
secu
rity
24-h
our
secu
rity
24-h
our
secu
rity
Onl
ine
paym
ents
Onl
ine
paym
ents
Onl
ine
paym
ents
Pac
kage
del
iver
y se
rvic
e
24-h
our
serv
ice
requ
est
guar
ante
e
24-h
our
serv
ice
requ
est
guar
ante
e
24-h
our
serv
ice
requ
est
guar
ante
e
24-h
our
serv
ice
requ
est
guar
ante
e
Millennial Generation
Baby Boomer Generation Silent GenerationGeneration X