As 2024 unfolds, the multifamily housing market is witnessing a transformation driven by changing lifestyles, technological advancements and a desire for enhanced community living.
From the rise of quiet buildings to the integration of smart home technologies, the industry is evolving to cater to the diverse needs of modern renters.
One of the most prominent trends shaping multifamily housing in 2024 is the concept of quiet buildings. These designated structures within an apartment community offer residents a serene environment by implementing specific rules, such as the use of rugs on hard surfaces, limited noise levels and designated quiet hours.
“Quiet buildings provide residents with a sanctuary away from the hustle and bustle of urban living. It’s about creating a space where they can truly unwind, improve their sleep quality, reduce stress and enhance their focus and concentration,” says Candie Guay, owner of Scottsdale-based Envida, a multifamily marketing agency.
With the surge in technology, advanced portal software is also becoming a cornerstone of modern multifamily living. These platforms, such as Henri, Envida’s sister tech company, go beyond basic communication tools, offering a range of features including resident events, emergency messaging systems, social media integration and even pet-friendly initiatives like doggy playdates and contests.
“This software not only fosters connectivity among residents but also enhances their overall living experience. It creates a sense of belonging and community, which is vital in today’s fast-paced world,” says Alana Millstein, co-founder of Scottsdale-based Henri, the choice community experience software for property management teams and residents.
As interest rates and housing costs continue to rise, build-to-rent (BTR) properties are also gaining traction. These turnkey living spaces provide the benefits of a detached home without the responsibilities of property management. BTR properties offer residents the opportunity to enjoy the perks of homeownership without the associated stress, which is a convenient and attractive option for those seeking a more independent living experience.
