H ome to more than 264,000 apartment units, Denver is a growing community. As part of its 2020 Apartment Resident Preference Report, the National Multifamily Housing Council and Kingsley Associates surveyed nearly 373,000 renters across the U.S., including more than 14,000 in the Denver metropolitan statistical area. From must-have apartment features to coveted com- munity amenities, we took a deep dive into not only what residents want in their community, but also how they found their current com- munity and what would make them stay or move on. Following are what Denver renters say they want. n Make it per- sonal. Eighty- seven percent of residents surveyed noted being able to personalize their apartment is important or very important. Similarly, 74% indicated a flexible space that could transform to meet different needs is important or very important, while one in five renters who indicated they were planning to move to a different apartment community when their current lease expires will do so to find a better apartment floor plan/layout. Interestingly, apartment residents who planned to move to a differ- ent unit in their current community when their lease expires shared a similar sentiment – 32% seek more living space and 30% want a better apartment floor plan/layout. n Location, location, location. Loca- tion truly matters – 76% of apart- ment residents surveyed noted location/convenience was a factor in deciding to visit a community. Further, 39% ranked proximity to work/office as the most important, among a list of 13 factors that influ- enced their current leasing decision. n A home … and home office. While residents prioritized proximity to work, many noted they are working from home on a regular basis. One- third of respondents reported work- ing from home several days, if not every day, each week. Yet, demand for on-site co-working facilities is low – 85% of those who telework Please see Page 23 INSIDE Colorado Springs and other ‘tertiary’ markets are seeing an influx of multihousing investing Active tertiary markets Forecasts for the upcoming year as it relates to affordable housing projects across the state Affordable housing PAGES 26-34 A developer shares insights to create the right amenity mix to do more than just tick the boxes Services as amenities PAGE 14 February 2020 PAGE 4 Kim Duty Senior vice president, Public Affairs and Industry Initiatives, National Multifamily Housing Council National Multifamily Housing Council More than 14,000 Denver renters participated in a national survey to identify must-have apartment features and why residents decide to renew or move. What do Denver’s apartment residents really want?