A Businessweek article, entitled “Apartment Nation: Trend to Multi-Family Housing Continues,” reported that construction of multi-family units is growing more quickly than construction of single-family homes. That’s good news for the multi-family housing industry. According to the National Multi Housing Council (NMHC), the industry broke ground on 167,000 units last year, barely half of the 300,000 units necessary annually just to meet anticipated demand.
So now that we know demand is up, the question is: how can an apartment community compete with those expanding around it.
The answer can be found online. Target demographics for the multi-family housing industry search apartments online now more than ever. Therefore, the best option for a multi-family housing community is to have a comprehensive internet marketing strategy.
The statistics below show that the target demographics for multi-family housing communities are also the most active online :
- People under 30. Of all of the age brackets, people under 30 has the largest percentage of renters, at 42% or 53.2 million. (Source: NMHC )
The same demographic, those under 3o, is also the most active on social networking sites, at 86%.
- Single women. Single women make up the largest percentage of apartment residents, at 27%.
Women also lead when it comes to the use of social networking sites, with 71% using. Females also log in more often and share more content, according to The Pew Research Center.
- People in cities. A higher percentage of residents rent in metropolitan areas. According to NMHC, the locations with the highest percentage of residents renting are New York (67.9%), Boston (67.5%) and San Francisco (63.4%). Urban areas also have more home access to mobile broadband and other internet services than rural areas, according to a Pew Research Study.
The key demographics for apartment communities are highly active online, and content and social media marketing helps reach them by:
- Driving more online traffic
- Attracting new residents
- Generating more quality leads and sales
- Engaging consumers to increase loyalty
To find out how to connect your apartment community online with your target demographic, get a free consultation with DigitalSherpa by clicking here.
Featured image via sxc