Well, so I started digging around for ideas and resources from others who are working to reach apartment communities. Rather stunned to learn that in cities:
- Just over half the people live in apartments vs homes (within city limits)
- 40% of those in homes are considered “churched”
- Only 5% of those in apartments are “churched”
Gave me chills. Kept looking, found the National Multi-Housing Council site. More good news for the Good News. Some tidbits from their site:
Demographics Favoring Increased Apartment Demand
- Two of the fastest growing age groups over the next 10 years (people in their mid-20s and empty nesters 50 and older), and they are particularly likely to select apartment housing.
- After more than two decades of declining in number, the population in the traditional renting years (age 20-29) is expected to increase 11 percent between now and 2010.
- The 45- to 74-year-old age bracket is expected to grow from 89 million people today to 109 million by 2014 and more than 115 million by 2020. And today’s empty nesters show a much higher propensity to rent than people their age in previous generations.
- Married couples with children have been declining in number since the 1970s and today account for just one quarter of all households.
- In the 1990s, single adult and single-parent households produced over two-thirds of all new households.
- The fastest growing household types going forward are those more likely to choose an apartment – childless couples, people who live alone and unrelated households.
If I was not already living in an apartment community, this data would have had me thinking I needed to make a strategic effort to include some families from homes in order to have a full range of family lifestyles (and children) in a church based on this community. But there are plenty of kids here, and in the nearby apartment communities we are targeting.
The 1997 Tax Policy and Apartment Demand
- Changes the traditional rationale behind the rent versus buy decision by making the first $500,000 of capital gains on homes sold by joint filers exempt from taxes ($250,000 for single filers).
- Freed from the prospect of a huge tax liability, three groups, in particular, are expected to question the financial merits of homeownership:
-Homeowners aged 55 and over
-Homeowners and job transferees moving to a new metro area
-Homeowners that want to downsize and simplify their housing - NMHC analysis suggests the number of apartment households could grow more than 10 percent over the next several years due to this tax law change alone.
Lifestyle Changes
- Young professionals and empty nesters seeking to shorten commutes, shed house-related chores and live closer to jobs/entertainment.
- Households who want ability to move for job/other reasons without incurring the cost of selling a house.
- Superior amenity packages not available or affordable in detached housing
-Sense of security, built in social opportunities, on-site concierge, fitness centers, pools, tennis courts, basketball courts, business centers, movie theaters, low-cost internet and cable access.
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