7 Popular Types of Rental Properties for Millennials

Story Highlights
  • No.1 - Houses
  • No.2 - Granny pods
  • No.3 - Apartments
  • No.4 - Bachelor apartments
  • No.5 - Lofts
  • No.6 - Serviced studio apartments
  • No.7 - Basement apartments

Millennials are quite the popular crowd. This generation of young individuals is constantly being talked about, no matter the subject of the conversation.

This is due to the fact that millennials simply do everything differently.

Since millennials are changing the proverbial game with their every step, it comes as no surprise that the world of real estate properties has also had the chance to experience it

Unlike the previous generations, millennials are far more interested in renting properties than actually buying them.

This is partly due to the fact that renting makes some of the most popular properties more easily accessible and affordable to millennials.

That being said, let’s see what are some of the most popular types of properties this generation is mostly interested in:

No.1 – Houses

Millennials who have already settled and are considering starting a family usually tend to be more interested in renting houses.

This is simply due to the fact that they are looking for more permanent and comfortable solutions.

By renting a house, they get all the benefits of living in such a setting without having any obligations homeowners usually have.

Depending on the type of lease agreement they have with the house owner, they can even fully customize the space to make it truly feel their own. 

No.2 – Granny pods

Unlike the regular houses one can rent out, granny pods are usually smaller in scale yet still very pleasant to live in.

Most commonly, these are the housing units built on the landlord’s property in close proximity to their own living property.

Most often, they entirely mimic the main property but are somewhat scaled-down, which is an excellent choice for anyone looking for their own peace and quiet while still having the benefit of having their landlord close by.

Since these units are most commonly fully attached to the main property’s grid, tenants don’t need to worry so much about the upkeep.

No.3 – Apartments

On the other hand, apartments are, of course, the type of property people generally tend to rent out.

But, since it’s millennials we’re talking about, they have surely made their twist when it comes to choosing.

No.4 – Bachelor apartments

Bachelor apartments are usually the most popular choice among younger millennials.

Since bachelor apartments are usually quite smaller than regular studio apartments, they’re usually favored by the singles’ crowd – hence the name.

Due to the fact that bachelor apartments are so small, they often don’t even feature a kitchen or an individual bathroom. Rather, people who rent this type of apartment usually share a bathroom with other tenants.

So, basically, it’s safe to say that a bachelor apartment is just a glorified crashing place.

No.5 – Lofts

Lofts also tend to be quite popular.

The fact that they are so unique in design is what draws this crowd in the most.

The appeal of the open-concept space that most commonly features an industrial design is something millennials seem to be unable to resist. These spaces feature plenty of light, and the majority of them do come with their own kitchens and bathrooms.

The kitchen in a loft apartment is also entirely open and it’s usually separated from the rest of the space with a nice bar and a kitchen island. 

No.6 – Serviced studio apartments

Studio apartments are also in high demand when it comes to millennials.

The fact that they are usually fully furnished and offer an all-inclusive rent makes them all the more appealing.

Since a beautifully designed studio apartment is usually smaller but very well executed, it makes some of the top choices of millennials. Some serviced studio apartments even feature their own balcony which is quite a nice feature. Millennials are quite (in)famous for the fact that they simply can’t seem to stay anywhere for long, this choice of rental property makes quite a lot of sense.

No.7 – Basement apartments

It is not unheard of that some people tend to convert their basements in fully-functional apartment units. These units are most commonly being rented to people looking for a part-time solution that’s still functional and comfortable.

But since there might be different types of basement apartments, tenants really need to decide which type they’d feel most comfortable living in.

Even though the previous generations were so focused on buying properties, millennials don’t seem to be as interested.

Simply due to the fact that renting a property leaves so much more freedom and flexibility, it’s really not so surprising that this generation is choosing this path. Besides, all of us do what seems to work best for us personally, and with millennials, things are no different. 

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