Making Sense of the Market: What Today’s Economic Shifts Mean for Multifamily Marketers

At AIM this year, one session stood out for marketers trying to decode today’s economic climate and apply it to leasing strategies: Making Sense of the Market: Data & Insights that Matter for Multifamily Marketers. Led by Zillow’s Chief Economist and senior leaders from Lefrak and Asset Living, this session was a data-packed deep dive into what’s changing—and what’s next—for multifamily operators.

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Here’s your quick recap and why it matters now more than ever.

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1. Macroeconomic Uncertainty = More Renters, Longer Renter Lifespans

The housing market may be turbulent, but that’s not bad news for multifamily. Between high mortgage rates (~7%), tightened lending, and a drop in consumer confidence, more people are choosing to rent—and for longer. Zillow predicts a 1% dip in home values nationally by year-end, and the break-even for owning a home has stretched from 4 years to 9. That means residents are thinking twice before buying and sticking with rentals.

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Add to that a major mindset shift: the average renter today is 42 years old, often career-focused, sometimes raising a family, and expecting more than just basic amenities. Marketers need to rethink the renter profile—this isn’t a student or recent grad—it’s a long-term customer with expectations.

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Livly Insight: Use our Resident Impact Score to better understand and serve your evolving renter base. Personalized insights help you deliver the experiences today’s renters value most.

2. Window Shopping with Purpose: Longer Leasing Cycles, Higher Intent

Both Lefrak and Asset Living emphasized what the data is showing: search cycles are longer, but conversions are stronger. Lefrak saw top-of-funnel leads drop by 40%, yet move-ins stayed steady. Why? Renters are doing deep research—treating the rental decision more like a home purchase. In cities like Miami and New York, move-ins often happen 45–60 days after first contact.

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That means your marketing timeline needs to shift. Communities with July exposure issues should be launching campaigns in May. And while AI leasing assistants can help, they shouldn’t replace the human touch. As one panelist bluntly put it: Don’t let AI close your leases. Pick up the phone.

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Livly Insight: The longer renters research, the higher their expectations once they move in. Livly helps you meet them with modern tools for communication, engagement, and service—so your high-intent residents stay longer and review better.

3. Concessions ≠ Competitive Advantage

Nearly 40% of Zillow listings offer concessions—but experts warned this is often a red flag, not a value-add. Two months free might help lease-up, but it rarely sustains loyalty. Instead, consider soft perks like free storage or premium parking. Even more important? Understand why you’re offering concessions. Often, it’s masking operational issues like delayed maintenance or weak communication.

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Livly Insight: Streamline your ops with our Integrated Experience—where maintenance, messaging, and reputation tools work together to eliminate the root causes of resident turnover.

Rethinking Amenities for the New Renter

As renters get older, expectations evolve. They’re less interested in ping-pong tables and more in concierge-style service. Two-bedroom units aren’t just for roommates—they may house a couple and their child. “Adulting in apartments” is real, and it’s changing how you should design, market, and manage your communities.

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Livly Insight: With our Flexible + Scalable platform, you can quickly adapt to resident trends, whether that’s shifting amenity use or redefining what ‘luxury’ means to your audience.

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Want to see how Livly supports this next generation of renters and onsite teams?

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Let’s walk through it together—schedule a demo today.

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