It is rare to go a day without hearing something new about apartment living. Everything from a new apartment community opening across the street to the rising costs of rent in the major cities. But the world is rapidly evolving, and so too is the news about apartment living. New innovations are making the apartment lifestyle more desirable than ever before. A host of other changes in typical apartment life (including prices) are changing the way we think about renting. Here’s a look our predictions for apartment life in 2017 and beyond.
The Apartment “Internet of Things” Will Take Off
A lot of media attention has recently been given to the Internet of Things, i.e. the “internetworking” of devices, vehicles, buildings and other items that are embedded with electronics, sensors, software etc. that allow objects to collect/exchange data. Leading the charge are Amazon’s Alexa and the new “home” features in Apple’s IOS platforms. In the future, we predict that everything in your apartment will be inter-connected and controlled through your smartphone. Already, some apartment communities are including Alexa as part of their offerings and others allow smartphones to control lights, A/C systems, and even front door entry. The average homeowner will have to pay thousands to implement this new technology in their house, but the average apartment renter will soon see it included in their typical apartment amenities.
Size Matters, But Bigger Won’t Always Be Better
In times not so long ago, everyone was seeking bigger apartments. Now, a trend of smaller apartments is occurring (especially in large cities). Saving money on rent by having less space and saving time by having less stuff is becoming the new normal. Of course, larger families –especially those with kids—will continue to seek larger spaces for increased comfort. But for young singles and downsizing Baby Boomers, smaller seems to be the new preferred choice. In fact, some companies are creating apartments out of recycled shipping containers and topping them with a host of luxury amenities. In the future of apartment living, bigger is not necessarily better.