Traditional multifamily assumptions about location, amenities, and design are being challenged, according to a new report from global architecture and design firm Corgan. “Residency Reshaped” draws on a survey of nearly 1,500 renters in six key Sun Belt markets, secondary research, and in-depth interviews with property managers and developers to provide insights on how resident priorities are evolving.
“We’ve uncovered what renters value—which requires looking beyond conventional wisdom and diving into the realities of their daily lives—and with that we can offer insights on how to bridge the gap between industry expectations and renter experiences,” said Stephen Lohr, Corgan’s multifamily studio leader. “With insights from ‘Residency Reshaped,’ developers have an opportunity to rethink how multifamily housing can better serve today’s renters. Our goal is to help clients create spaces that not only attract residents but keep them.”
The report breaks down assumptions and provides the realities found in the research. Here are a few of the key findings:
1. Amenity Wars
Assumption: Amenity demand has surged as renters live, work, and play on-site.
Reality: Renters value essentials that offer convenience and reduce external costs.
Through interviews, developers and property managers shared that amenities such as fitness centers, swimming pools, laundry facilities, and outdoor spaces have become essential for renters as they look for convenience and cost savings.
However, in its Kano Model analysis of renter preferences, none of the shared on-site amenities fell into the attractive category; renter respondents categorized them in the indifferent, performance, and must-have categories.
“With most amenities classified as must-have or performance, the focus should be on creating reliability, quality, and convenience to meet or exceed expectations,” noted the report.
It also found that amenities marked as indifferent—such as co-working spaces, pet-washing stations, and scenic views—could be enhanced to provide more appeal for residents. This could include creating high-tech co-working areas or multifunctional spaces for more uses.
The majority of respondents also said they are willing to pay extra for high-impact amenities. According to Corgan, targeted improvements to neighborhood assets, shared spaces, and in-unit features, such as upgraded appliances or green space, can justify moderate rent increases and support resident satisfaction.
2. Location, Location, Location?
Assumption: Location is the top attractor for renters—design and affordability follow.
Reality: Affordability and amenities are more attractive than location in today’s economy.
According to the interviews, developers and property managers believe location matters. Developers prioritize location with the view that a building’s success depends on its placement in a desirable area. Property managers, on the other hand, acknowledge location remains important but said affordability is an even higher priority.
When choosing an apartment, the research found that affordability followed by amenities are the top two factors across all generations.
For the 51% of survey respondents that selected location as one of the top three factors for selecting their current apartments, half prioritized neighborhood assets such as parks, retail, and restaurants, while 47% and 46% said proximity to quality schools and work, respectively.
3. Innovation Is Key
Assumption: Smart-home tech is not a driver for renter decision-making ... yet.
Reality: Renters demand for tech is current, not future-driven.
Property managers and developers are mixed on the importance of technology integration. Some said they believe tech-savvy features enhance property appeal and resident satisfaction, while others expressed concerns about smart technology being a potential risk to resident safety and privacy as well as an added cost. The largest group took a neutral stance, saying the technology is a nice addition but not a must-have.
For the survey respondents, smart-home features are in demand, with 73% saying they already have high-speed internet, 61% each having smart lighting and smart appliances, 57% having voice-activated assistants such as Amazon Echo and Google Home, and 56% having smart locks and security systems.
When asked what other new innovations, technologies, or spaces they would like to see in their buildings, respondents shared smart mobility solutions, such as electric vehicle charging stations and automated parking systems; eco-friendly amenities, such as water-efficient fixtures, recycling options, and gardening spaces; high-speed connected environments; secure access systems; and energy-efficient technologies, such as smart lighting and home energy management systems to help reduce costs.
