High-density rentals dominate the market today, but what features seal the deal for tenants?
Affordability is a major driver of today’s rental market. With only 17% of Americans able to afford the average first-time home, priced around $358,000, many are turning to high-density multi-family rentals instead.
High-density projects are increasingly dominating the market: buildings with 10 to 19 units have dropped from 24% in 2004 to just 4% in 2024, while high-density units account for 55% of all completions in 2024.
It’s clear that high-density multi-family rentals are in high demand. But what exactly are tenants looking for, and are sustainable features part of the equation? According to recent COGNITION Smart Data, 40% of builders reported that sustainable features have a major impact on consumers’ selection of a multi-family project, with an additional 23% saying they have a moderate impact.
Many tenants, particularly Millennials and Gen Z, are seeking energy-efficient buildings that reduce utility costs, improve indoor air quality, and integrate smart, connected technologies. While cost remains the limiting factor for many renters, sustainable features are increasingly seen as a valuable benefit that can influence leasing decisions and long-term satisfaction.
Beyond sustainability, certain amenities are driving leasing velocity. In-unit laundry, high-speed internet, pet-friendly policies, and fitness centers top the list. 1- and 2-bedroom apartments remain the most in-demand, particularly in urban centers and high-demand suburban markets.
Understanding which features drive leasing speed and tenant satisfaction is critical for builders navigating today’s high-density rental market. Download our 2025 Multi-Family Report to access the latest COGNITION data, trends, and actionable takeaways on unit mix, amenities, and sustainable features shaping the market.
COGNITION Smart Data, Green Builder Media’s pioneering suite of market intelligence and data services, uses cutting-edge cognitive learning technology to deliver the insights you need to align products, messaging, and innovation with what homebuyers actually want.
COGNITION is the only market insights platform specifically engineered for the building industry’s sustainability transformation. We track evolving consumer behaviors, emerging technologies, policy shifts, competitive benchmarks, and market demand signals so you can adjust faster, sell smarter, and grow revenue—confidently.
Victoria Muharsky is an ESG specialist at Green Builder Media, where she leads the ESG for Building Working Group. Under her guidance, the group has successfully overseen the release of the groundbreaking ESG Defining Principles. Crafted collaboratively by industry experts, these guidelines are revolutionizing the homebuilding sector's approach to ESG and sustainability.
What’s Driving Multi-Family Leasing in 2025
High-density rentals dominate the market today, but what features seal the deal for tenants?
Affordability is a major driver of today’s rental market. With only 17% of Americans able to afford the average first-time home, priced around $358,000, many are turning to high-density multi-family rentals instead.
Builders are working to keep pace. According to the NAHB, 608,000 multifamily units were added in 2024, with 95% (580,000 units) built for rent. High-density multi-family now outnumbers low to medium density buildings.
High-density projects are increasingly dominating the market: buildings with 10 to 19 units have dropped from 24% in 2004 to just 4% in 2024, while high-density units account for 55% of all completions in 2024.
It’s clear that high-density multi-family rentals are in high demand. But what exactly are tenants looking for, and are sustainable features part of the equation? According to recent COGNITION Smart Data, 40% of builders reported that sustainable features have a major impact on consumers’ selection of a multi-family project, with an additional 23% saying they have a moderate impact.
Many tenants, particularly Millennials and Gen Z, are seeking energy-efficient buildings that reduce utility costs, improve indoor air quality, and integrate smart, connected technologies. While cost remains the limiting factor for many renters, sustainable features are increasingly seen as a valuable benefit that can influence leasing decisions and long-term satisfaction.
Beyond sustainability, certain amenities are driving leasing velocity. In-unit laundry, high-speed internet, pet-friendly policies, and fitness centers top the list. 1- and 2-bedroom apartments remain the most in-demand, particularly in urban centers and high-demand suburban markets.
Understanding which features drive leasing speed and tenant satisfaction is critical for builders navigating today’s high-density rental market. Download our 2025 Multi-Family Report to access the latest COGNITION data, trends, and actionable takeaways on unit mix, amenities, and sustainable features shaping the market.
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COGNITION is the only market insights platform specifically engineered for the building industry’s sustainability transformation. We track evolving consumer behaviors, emerging technologies, policy shifts, competitive benchmarks, and market demand signals so you can adjust faster, sell smarter, and grow revenue—confidently.
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By Victoria Muharsky
Victoria Muharsky is an ESG specialist at Green Builder Media, where she leads the ESG for Building Working Group. Under her guidance, the group has successfully overseen the release of the groundbreaking ESG Defining Principles. Crafted collaboratively by industry experts, these guidelines are revolutionizing the homebuilding sector's approach to ESG and sustainability.