![\"Generation](\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/01\/bigstock-Parent-With-Adult-Children-Enj-70820041-600x400.jpg\")
<\/h3>\nGeneration X<\/h3>\n\n- Born late sixties to 1980<\/span><\/li>\n
- Age in 2017<\/strong> : 37 – 52<\/span><\/li>\n
- 28% of the Renter Population<\/span><\/a><\/li>\n<\/ul>\n
Known for<\/strong> – Being the generation sandwiched between 2 of the largest generations; sometimes referred to as the Forgotten Generation<\/a>.<\/span><\/p>\nEducated<\/b>: <\/span>\u00a0Gen X\u2019ers, are among the most highly educated generation in the U.S. with 35 percent having college degrees<\/a> vs. 19 percent of Millennials.<\/span><\/p>\nEntrepreneurs:<\/b>\u00a0<\/span>55 percent of startup founders<\/span><\/a> are part of Gen X. (Think Elon Musk of Tesla Motors and SpaceX.)<\/span><\/p>\nWhy Generation X Matters<\/h3>\n
Generation X took a hard hit during the housing crisis. At the peak of the housing bubble, Generation X were among the new homeowners who spent the majority of their savings on a house. After the crash, job loss and foreclosure, Gen X was left with no savings and bad credit, contributing significantly to the renter pool. <\/span><\/p>\nGen X is also finding themselves sandwiched between 2 generations that seek refuge in the home of a Gen X\u2019er. Adults in their 20s and 30s are crashing with their Gen X parents at record or near-record levels. \u00a0And Baby Boomers are relying more on their Gen X kids for residence or financial assistance as they age. \u00a0Instead of downsizing as they age, some Gen X\u2019ers are upsizing to accommodate their extended families. \u00a0<\/span><\/p>\nGeneration X as Renters\u00a0<\/span><\/h3>\nAs renters, Generation X is working to build back their credit and savings, but may have significant mistrust in the economy and the security of property investment. Additionally, more demand in the rental market has led to higher rents<\/a>, which makes it harder to save for a down payment, according to a CNN Money<\/a>\u2019s perspective on Generation X renters.<\/p>\nWhen it comes to looking for a new rental home Generation X turns to the internet and landlords. According to <\/span>Zillow<\/span><\/a>, they rely most on online tools (84 percent) and direct landlord or owner contact (63 percent). Additionally, 2 out of 5 Gen X renters\u00a0pay attention to yard or open house signs (38 percent), which is on par with Millennials.<\/span><\/p>\n81 percent of Gen X is on Facebook and 5.9 million have Snapchat<\/a> accounts. But they engage with their online personas less for selfie-centered promotion and more to keep track of the world<\/p>\n![\"Generation](\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/01\/bigstock-Group-of-trendy-people-taking-155425793-600x400.jpg\")
<\/strong><\/h3>\nGeneration \u00a0Y\/Millennials<\/h3>\n\n- Born between 1981 and 1995<\/span><\/li>\n
- Age in 2017: 22-36<\/span><\/li>\n
- 56 % of the Renter Population<\/span><\/a><\/li>\n<\/ul>\n
Known for<\/strong> – Crushing student loan debt, dependency on technology, and entitlement. <\/span><\/p>\nWhy Generation Y Matters<\/span><\/h3>\nMillennials make up the largest cohort of the renter population. \u00a0Generation Y was once known as the generation most likely to move back home as a result of high student loan debt and a bleak job market post college. As the job market picked up, renting became a popular option for Millennials looking to enter the rental market while saving for a down payment. <\/span><\/p>\nAdditionally, Millennials are holding off on becoming homeowners. Renting provides added amenities, flexibility \u00a0and affordability compared to home-ownership. <\/span><\/p>\nDespite having a reputation of overwhelming debt from student loans and irresponsible spending habits, millennials appear to be a fiscally responsible group, with 84% claiming to have never fallen behind in the rent<\/a><\/span>. \u00a0<\/span><\/p>\nGeneration Y as Renters<\/span><\/h3>\nMillennial renters turn first to technology. They are the generation most likely to use online resources (90 percent), particularly via mobile access (76 percent), and are more likely than those age 35 or older to reach out to their friends, relatives and neighbors for advice (62 percent).<\/span><\/p>\nAs renters, Millennials prefer renting to home-ownership because of the following reasons according the Urban Land Institute<\/a>:<\/p>\n\n- Management handles repairs and maintenance<\/li>\n
- Flexibility in how long I stay<\/li>\n
- No long-term commitment to unit or location<\/li>\n
- Renting is more affordable<\/li>\n
- Money not tied up in a residence<\/li>\n
- Credit isn\u2019t good enough to buy<\/li>\n
- Roommates help pay rent<\/li>\n
- Appealing amenities (pool, gym, social spaces)<\/li>\n
- Enjoy socializing in my building\/apartment complex<\/li>\n
- Concerned about job security<\/li>\n<\/ul>\n
![\"Generation](\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/01\/bigstock-121829435-600x423.jpg\")
<\/span><\/h3>\nGeneration Z\u00a0<\/span><\/h3>\n\n- Born 1996-2010<\/span><\/li>\n
- Age in 2017: \u00a07-21<\/span><\/li>\n
- Just entering the renter population<\/span><\/li>\n<\/ul>\n
Known for<\/strong> – The first generation to be raised entirely in an era of smartphones and social media.<\/span><\/p>\nWhy Generation Z Matters<\/span><\/h3>\nAccording to Forbes<\/span><\/a>, t<\/span>his age group of confident, connected, tech-savvy, multitasking high achievers were tightly scheduled as children \u2013 think youth sports, music lessons, full-day kindergarten, etc. \u2013 and want some sort of activity during all waking hours. Studies have shown they want instant gratification and prefer to work hard and play hard.<\/span><\/p>\nIn an era of emoji and six-second Vine videos, \u201cwe tell our advertising partners that if they don\u2019t communicate in five words and a big picture, they will not reach this generation,\u201d said Dan Schawbel, the managing partner of <\/span>Millennial Branding<\/span><\/a>, a New York consultancy.<\/span><\/p>\nGeneration Z as Renters<\/h3>\n
Known for<\/strong> – Being the generation sandwiched between 2 of the largest generations; sometimes referred to as the Forgotten Generation<\/a>.<\/span><\/p>\n Educated<\/b>: <\/span>\u00a0Gen X\u2019ers, are among the most highly educated generation in the U.S. with 35 percent having college degrees<\/a> vs. 19 percent of Millennials.<\/span><\/p>\n Entrepreneurs:<\/b>\u00a0<\/span>55 percent of startup founders<\/span><\/a> are part of Gen X. (Think Elon Musk of Tesla Motors and SpaceX.)<\/span><\/p>\n Generation X took a hard hit during the housing crisis. At the peak of the housing bubble, Generation X were among the new homeowners who spent the majority of their savings on a house. After the crash, job loss and foreclosure, Gen X was left with no savings and bad credit, contributing significantly to the renter pool. <\/span><\/p>\n Gen X is also finding themselves sandwiched between 2 generations that seek refuge in the home of a Gen X\u2019er. Adults in their 20s and 30s are crashing with their Gen X parents at record or near-record levels. \u00a0And Baby Boomers are relying more on their Gen X kids for residence or financial assistance as they age. \u00a0Instead of downsizing as they age, some Gen X\u2019ers are upsizing to accommodate their extended families. \u00a0<\/span><\/p>\n As renters, Generation X is working to build back their credit and savings, but may have significant mistrust in the economy and the security of property investment. Additionally, more demand in the rental market has led to higher rents<\/a>, which makes it harder to save for a down payment, according to a CNN Money<\/a>\u2019s perspective on Generation X renters.<\/p>\n When it comes to looking for a new rental home Generation X turns to the internet and landlords. According to <\/span>Zillow<\/span><\/a>, they rely most on online tools (84 percent) and direct landlord or owner contact (63 percent). Additionally, 2 out of 5 Gen X renters\u00a0pay attention to yard or open house signs (38 percent), which is on par with Millennials.<\/span><\/p>\n 81 percent of Gen X is on Facebook and 5.9 million have Snapchat<\/a> accounts. But they engage with their online personas less for selfie-centered promotion and more to keep track of the world<\/p>\n Known for<\/strong> – Crushing student loan debt, dependency on technology, and entitlement. <\/span><\/p>\n Millennials make up the largest cohort of the renter population. \u00a0Generation Y was once known as the generation most likely to move back home as a result of high student loan debt and a bleak job market post college. As the job market picked up, renting became a popular option for Millennials looking to enter the rental market while saving for a down payment. <\/span><\/p>\n Additionally, Millennials are holding off on becoming homeowners. Renting provides added amenities, flexibility \u00a0and affordability compared to home-ownership. <\/span><\/p>\n Despite having a reputation of overwhelming debt from student loans and irresponsible spending habits, millennials appear to be a fiscally responsible group, with 84% claiming to have never fallen behind in the rent<\/a><\/span>. \u00a0<\/span><\/p>\n Millennial renters turn first to technology. They are the generation most likely to use online resources (90 percent), particularly via mobile access (76 percent), and are more likely than those age 35 or older to reach out to their friends, relatives and neighbors for advice (62 percent).<\/span><\/p>\n As renters, Millennials prefer renting to home-ownership because of the following reasons according the Urban Land Institute<\/a>:<\/p>\n Known for<\/strong> – The first generation to be raised entirely in an era of smartphones and social media.<\/span><\/p>\n According to Forbes<\/span><\/a>, t<\/span>his age group of confident, connected, tech-savvy, multitasking high achievers were tightly scheduled as children \u2013 think youth sports, music lessons, full-day kindergarten, etc. \u2013 and want some sort of activity during all waking hours. Studies have shown they want instant gratification and prefer to work hard and play hard.<\/span><\/p>\n In an era of emoji and six-second Vine videos, \u201cwe tell our advertising partners that if they don\u2019t communicate in five words and a big picture, they will not reach this generation,\u201d said Dan Schawbel, the managing partner of <\/span>Millennial Branding<\/span><\/a>, a New York consultancy.<\/span><\/p>\nWhy Generation X Matters<\/h3>\n
Generation X as Renters\u00a0<\/span><\/h3>\n
<\/strong><\/h3>\nGeneration \u00a0Y\/Millennials<\/h3>\n
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Why Generation Y Matters<\/span><\/h3>\n
Generation Y as Renters<\/span><\/h3>\n
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<\/span><\/h3>\nGeneration Z\u00a0<\/span><\/h3>\n
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Why Generation Z Matters<\/span><\/h3>\n
Generation Z as Renters<\/h3>\n