While the apartment industry felt the effects of the housing crisis, the repercussions were much less severe than other industry sectors. In fact, the industry as a whole benefitted in more ways than one, and emerged from the recession with strong prospects. Most remarkably, the growth is in part to the certain demographics that drive the industry and their continued contributions to the market.
So who are these groups of people, and why will they choose to rent their space in 2014?
Not surprisingly, many baby boomers are opting to rent their spaces instead of owning them. Many have decided they want a more secure housing alternative that comes with more features, like community amenities and luxury appliances. Additionally, many are looking to rent apartments because they wish to waive repair and maintenance efforts. When renting an apartment, any repair or maintenance costs typically fall on the landlord, allowing tenants to enjoy their apartment while saving money.
Parents & Families
A tenant trend that’s been extremely prevalent this past year has been an increase in parents with children. It’s easy to see why this could be true in Arcadia Run – our community includes everything a growing family might want or need. With a planned pool, clubhouse and playgrounds, Arcadia Run is every busy parent’s dream. And, with events like our recent Holiday Party, families can connect with their neighbors and create lasting friendships.
Better yet, Manassas is a great town to raise a family. The charming historic district offers so much for residents including seasonal festivals, countless museums, and a thriving downtown scene with family-friendly restaurants.
Young professionals who are renting their space are seeking to maintain their mobility, and will continue to do so in 2014. Many renters may have the ability to find a leasing option that works best for them, giving them more freedom when choosing a space. With Manassas being the home to major corporations, living and working in this great town is more attainable than ever!
No matter the demographic you fall into, Arcadia Run is one of the best luxury apartment communities in the Manassas area. Our brand-new apartments are available in different floor plans and pricing to match your needs. The included community amenities are some of the best in market and truly seal the deal on this amazing development. This new year brings promise to the apartment industry and we’re excited to welcome new guests to our Arcadia Run community!