- There are roughly 80 million Millennials in the U.S.

- Online & mobile channels are important to Millennials, providing the information & insights they need to find the best product or service

MILLENNIALSAS RENTERS

References: 1. 2014 Home Buyer & Seller Generational Trends2. National Journal3. Forbes4. REIT

Cleveland Construction

Spent > 30% Income on Rent

46%Spent > 50%

Income on Rent

20%

- The percentage of Americans in their late 20s & early 30s living with their parents has risen sharply in the last decade & is at its highest point in 50 years

WHY MILLENNIALS LOVE RENTING

AMENITIESCOMMUNITYFLEXIBILITY

CONVENIENCE

- The high inclination to rent is related to the fact that millennials are getting married and having children later in life than their parents and grandparents did, partly for economic reasons

IN 2014: RENTERS 25 - 34

SUPPLY INCOMERENT DEMAND