Lynn M. Ross, AICPExecutive DirectorULI Terwilliger Center for Housing

ULI/Carolyn and Preston Butcher Forum on Multifamily HousingJanuary 16, 2014

lynn.ross@uli.org

@mslynnross • @ULIHousing

• How do American’s feel about their communities, housing and transportation?

• What do they want for themselves and their families in the future?

• What is the level of interest in compact development?

• How does demand vary by generation?uli.org/communitysurvey

What do we value in our neighborhoods? Everything.

54% of all adults surveyed chose three or more compact development attributes.

Some of the Fastest Growing Segments of U.S. Population Strongly Prefer Compact Development

BIG QUESTION #1Who is planning to move?

BIG QUESTION #2What choices will movers make about community and housing?

42% of all adults surveyed plan to move in the next five years. Likely movers seek compact development attributes too.

War Babies/Silent Generation I Born 1932-1946/1931 or earlier I 35M

- Predominately female- Lowest incomes- Lives alone

Most likely to…• Stay in their current

homes.• Want to live in walkable

neighborhoods.• Want to be close to

health services, friends and family, shopping and entertainment.

Baby Boomers I Born 1947-1965 I 73M

- Higher incomes- Well educated- Most divorced

Most likely to…• Live in a single-family

home.• Prefer a shorter

commute and smaller home.

Generation X I Born 1966-1978 I 55M

- Highly educated- Married- Highest income

Most likely to…

• Live in a single-family home.

• Drive nearly every day.

• Have children under 18 at home.

Generation Y I Born 1979-1995 I 72M

- Ethnically diverse- Lower income

Most likely to…• Live in rental housing and

seek diverse housing types.• Be dissatisfied with where

they live currently.• Move within the next five

years.• Move to a walkable

community with public transit options.

How do the different generations feel about compact development?

Are owners and renters looking for different neighborhoods?

How do owners and renters feel about compact development?

The Lure of Homeownership Remains Strong

71% believe “buying a home is probably a good investment for me.”

Especially true for:• Incomes greater

than $75K (87%)• College graduates

(80%)• Generation X (79%)

Buying a Home a Good Investment? Owners and Renters have Different Opinions

Expectations for Owning and Renting by Generation

What does all of this mean for the future of housing policy and the residential development?