The definition of the millennial generation is persons born between the early 80s and late 90s. By any definition, they’ve attained the age where they’re firmly established or entering their careers and are in a position to purchase a home.
Consequently, their needs and wants are currently a major force behind the trends in real estate. With a need for convenience, passion for flexibility, and love of community-based activities and amenities, more millennials are opting for rentals instead of homeownership. Here’s a look at why this generation is driving the rental market.