Multifamily in 2025

Joshua Waldron • September 22, 2025

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Why Amenities Are the New Competitive Edge

At REIF, we remain bullish on multifamily real estate and the data continues to back that position. The renter population reached a record 45.2 million households in 2024, growing three times faster than homeowner households (Katz & Bokhari, 2024). With affordability pressures, limited housing inventory, and shifting demographics, multifamily demand isn’t just strong, it’s resilient.


But strong demand alone doesn’t guarantee profitability. Missing even one month of rent can mean the difference between a positive or negative return, depending on your margins. That’s why we believe amenities, finishings, and overall community design aren’t just nice-to-have, they’re strategic tools to stay competitive and reduce costly vacancy gaps.

Amenities: The Real Differentiator

A recent survey from the National Multifamily Housing Council (NMHC) revealed that 85% of residents report satisfaction with their communities, much of which is driven by access to amenities and lifestyle experiences (NMHC, 2023). Modern renters aren’t looking for “just a unit,” they’re comparing communities, weighing the total value of their living experience.


And here’s the key: amenities often don’t translate into higher rents directly, but they do help reduce vacancy times, win lease renewals, and attract better-fit residents. In a business where one lost month can erase annual profits, that competitive edge is invaluable. However, that does not mean that amenities won't increase rents. Sometimes they do while simultaneously decreasing vacancy times. 

Pet-Friendly Policies Win Leases

One of the most striking renter trends is the surge in pet ownership. In 2023, 59% of residents reported owning a pet, more than those with children or even plants (Zillow, 2025). The “pet filter” is now the most used search feature on rental platforms, and 60% of residents say pet policies are a primary reason they renew their lease (Zillow, 2025).

For investors, that means dog parks, pet washing stations, and flexible pet policies aren’t just perks, they’re revenue protection. Failing to accommodate pets is now one of the fastest ways to lose a prospect.

Sustainability: The New Amenities Race

As Gen Z renters enter the market, sustainability is shaping expectations. Eco-friendly features like EV charging, Energy Star appliances, composting, and LED lighting are increasingly seen as baseline. Not only do these amenities reduce environmental impact, but they also lower utility costs, which strengthens renter loyalty (Kraus, 2020; Zillow, 2025).


Sustainability and wellness often overlap, airtight windows that let in natural light, access to walking paths, and proximity to public transit all improve renter satisfaction and reduce turnover (Serlin, 2024).

Package Management: Meeting Today’s Needs

With e-commerce projected to reach $8.1 trillion by 2026 (Snyder, 2024), package management is quickly becoming a top amenity. Smart lockers are now the second-most valued amenity among renters, just behind secure parking (Parcel Pending, 2024).


Properties that provide secure, convenient, 24/7 package access aren’t just offering convenience, they’re addressing real security concerns and modern lifestyle needs. Nearly 90% of residents report using smart lockers weekly, underscoring how critical this amenity has become (Parcel Pending, 2024).

REIF’s Approach: Thinking Beyond Rent

At REIF, we love thinking outside the box to create competitive advantage in multifamily. Sometimes that means upgrading kitchens and baths, other times it means adding amenities that don’t directly increase rent but shorten vacancy gaps and improve retention.

The way we see it, profitability in multifamily isn’t about cutting costs, it’s about creating value-rich communities that residents want to be part of. Amenities, finishings, and forward-thinking design help us minimize downtime, attract long-term renters, and position our properties ahead of the competition.

Final Takeaway

Multifamily success in 2025 will be defined by more than supply and demand. Investors who focus on renter experience; through pet-friendly policies, sustainable amenities, smart technology, and creative finishes, will not only stay competitive but thrive.


At REIF, we believe the property that wins the renter first, wins the financial game.

References

Katz, L., & Bokhari, S. (2024, August 2). Renter nation: America’s renter population is growing three times faster than its homeowner population amid rise in homebuying costs. Redfin. https://www.redfin.com/news/renter-household-growth-2024/

Kraus, B. (2020, June 10). For Gen Z, sustainability is the new amenities race. Multifamily Executive. https://www.multifamilyexecutive.com/design-development/for-gen-z-sustainability-is-the-new-amenities-race_o

National Multifamily Housing Council. (2023, November 7). 2024 NMHC and Grace Hill renter preferences survey reporthttps://www.nmhc.org/research-insight/research-report/nmhc-grace-hill-renter-preferences-survey-report/

Parcel Pending by Quadient. (2024, August 2). 2024 resident preferences reporthttps://www.parcelpending.com/en-us/resources/2024-resident-preferences-report/

Serlin, C. (2024, March 4). 5 trends shaping the renter landscape. Multifamily Executive. https://www.multifamilyexecutive.com/property-management/apartment-trends/5-trends-shaping-the-renter-landscape_o

Snyder, K. (2024, March 28). 35 e-commerce statistics of 2024. Forbes. https://www.forbes.com/advisor/business/ecommerce-statistics/

Zillow. (2025, November 27). Rentals consumer housing trends report 2025https://www.zillow.com/rental-manager/resources/your-guide-to-2025-zillow-rentals-consumer-housing-trends-report/


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