Why High-End Apartments Are More Enticing to Millennials

Bylined Article

While some Millennials are lured to the major markets, many also are happy to call Indianapolis and other Midwestern markets home. In addition to the desire for entrepreneurship and innovation, Millennials also have a strong family orientation.  Staying closer to family and friends no longer has to mean sacrificing the lifestyle and experiences Millennials aspire to in larger cities thanks to urban redevelopment and new luxury housing options available in the Midwest.
Insert Indianapolis. A city proving time and time again, to be a centralized hub for Millennials. Offering affordable and attractive living in more ways than one, what is it that makes Indianapolis so enticing to this group?

For one, Indianapolis offers high-end apartment living for reasonable pricing compared to other major metros. Millennials are known to be very location-focused, desiring to be close to amenities such as restaurants, retail and entertainment. New luxury apartment developments downtown, in Broad Ripple and around Keystone at the Crossing provide these opportunities, and will continue to satisfy that desire.  Also, because many Millennials are renters by choice and not necessarily due to economic need they’re willing to pay to be in the best location, particularly one that is walkable to the amenities they desire.

As a more design savvy group than previous generations, Millennials aren’t your typical cookie-cutter customer; they’re on the lookout for something unique and are willing to pay for it. This includes expecting many of the same high-end finishes that they could have in a condominium or home – granite counters, wood and high end flooring, stainless steel appliances, wine refrigerators among others. Growing up watching HGTV and other design shows, they have had greater exposure to distinctive design options and want the same in their homes.

Another factor driving high demand and luxury living for Millennials is their previous experience in high-end student housing.  Many Millennials lived in the “new breed” of luxury student housing found across campuses nationwide. They grew accustomed to stylish, well-made finishes and extensive amenity packages. Similar to campus settings, millennial groups expect ease of connectivity such as high bandwidth and WiFi anywhere and everywhere. Upon graduation, they expect those same features in their first real world apartment.

Additionally, Millennials value community spaces – both personal and professional – and are drawn to environments that develop a sense of community and stay uber-connected through programming, social media and more. Technology has proven to be and will continue to be extremely crucial to these social efforts.

It’s necessary for apartment community developers to understand what exactly these individuals expect in the home search because the group is continuing choose to stay in the Midwest but need housing options that meet their aspirations. Millennials have a drive to be different than the “norm” in today’s culture and that includes living in the newest property with the newest features. For example, many Millennials in Indianapolis look for and enjoy the higher degree of service found in luxury apartments, including offering dry cleaning services, onsite fitness classes, dog walking capabilities, and more.

People who call Indianapolis home are constantly being reminded as to why the city is so amazing with its culture of urban innovation. It only makes sense that Millennials are the perfect fit to be a part of that urban innovation culture throughout the state and contribute their worldly sense to our local community. How does Indianapolis continue to attract them here? By providing solid job opportunity and continuing to build and develop high-end apartment communities with the amenities and values they want and need.

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