For Apartment Living, It's the Rise of the 'Homebodies'
“Homebody” was once a term reserved for introverts. But data is trending away from that and by 2025 more than 70% of Americans will continue with the at-home habits that were adopted during the pandemic lockdowns.
This was part of the “Bold Predictions for 2025 and the Rise of the Homebody” presented by Lia Nichole Smith, Senior Vice President of Education and Performance – ApartmentRatings.com and SatisFacts Research, during National Apartment Association’s Apartmentalize Conference in Atlanta.
Smith said the increase in time spent at home shows that even extroverts fit that habit.
“They are still plenty social – they are extroverts, after all — they just want everyone to come to their home,” she said. “More people view their home as a sanctuary.”
Apartment operators must take notice and offer amenities that cater to being at home. They also must be aware that their daily operations are now being observed by their residents, who aren’t simply leaving their apartments at 8 a.m. and coming home at 5 p.m. on weekdays.
The US Census said the number of Americans working from home will increase from 27.6 million in 2021 to 36.2 million in 2025.
If they haven’t already, Smith said apartment firms need to ensure their communities are well-connected, including through intercom security, voice-activation features, and ample Wi-Fi.
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Given that residents now and certainly more so in 2025 will be digital technology-driven, they must enable them to conduct business online for every aspect of the renter experience.
Smith said by 2025 first-time homebuyers will regain market share at 45%, and apartment operators must give more focus on retention.
Smith’s other predictions were that customer service must become hyper—personalized, residents will become even more tribalized – where amenities will not be as important as finding a community where there are people just like them – consumers will be more conscientious about the companies they do business with and more will seek to buy homes and not rent.
Courtesy: Richard Berger
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