As modern innovations continue to help homeowners’ associations (HOAs) thrive, it’s critical to consider who is driving these innovations—Generation Z and millennials. These younger generations are making a splash in the real estate industry, bringing fresh ideas to HOAs and setting a new standard of living. Read on to learn more about these emerging demographics and how your HOA can attract young homeowners.

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Younger Generations & Homebuying  

While Gen Xers and baby boomers have dominated the housing market for decades, a new generation of homebuyers is on the rise. Millennials and Generation Z are entering the housing market full-force and making their mark on HOAs. Here’s a breakdown of these younger demographics and their impact on the landscape:

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Millennial Homebuyers

The millennial generation, also known as Generation Y, comprises individuals born between 1981 and 1996. Despite the challenges of low inventory, high student loan debt, and inflation, 50% of millennials now own homes. They’re the largest homebuying generation, accounting for 38% of buyers in 2023.

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Generation Z Homebuyers

Generation Z, or Gen Z, is the generation of individuals born between 1997 and 2012. Although high mortgage, unemployment rates, and home prices negatively affected homebuying in 2023 and 2024, just over one-quarter of Gen Z adults own a home. That number is projected to drastically increase in the coming years. In fact, older Gen Zers are buying houses more than their parents did at their age.

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How to Market Your HOA to Younger Homeowners

Taking up a significant market share, younger generations bring new dynamics and expectations to real estate and the HOA industry. Explore five ways HOAs can attract and retain millennial and Gen Z buyers.

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1. Go Green

Climate change, plastic waste, and pollution are major concerns for younger generations. Gen Zers and millennials strive to make eco-conscious buying decisions when purchasing properties. HOAs can attract young homebuyers and keep pace with their growing demand for green practices by focusing on sustainability. Your HOA can go green by:

• Forming a “green committee”
• Hosting recycling and trash pick-up events
• Implementing water-conservation measures
• Using sustainable building practices
• Offering green spaces
• Educating residents
• Going paperless
• Installing electric vehicle charging stations

2. Prioritize Pets

Millennials and Gen Z make up the largest percentage of current pet owners. They love their pets and aim to live in a community that loves them, too. To entice younger homebuyers, your HOA should consider featuring perks and programs with four-legged friends in mind. Ways to build a pet-friendly HOA include:

• Hosting pet events and activities
• Having a formal pet policy
• Installing pet waste stations and water fountains
• Providing dog-friendly green spaces
• Using pet management software

3. Encourage Connection

Many people choose to live in a neighborhood with an HOA because of the inherent sense of community and togetherness. However, despite wanting to connect with neighbors, younger generations struggle to do so because they don’t know how. To bring in Gen Z and millennial movers, show that your HOA values neighborly relationships and makes forming connections effortless. You can foster a culture of collaboration and camaraderie by:  

• Establishing a social committee
• Hosting regular events
• Greeting new residents with a welcome committee
• Communicating well and often

4. Offer Amenities

Young homebuyers are drawn to neighborhoods with exclusive amenities. Defined by a better work-life balance compared to previous generations, these groups want more than a home—they want a neighborhood experience. To accommodate these wants, your community should offer high-quality, easily accessible amenities for these buyers and their young families. Popular HOA amenities include:

• Tennis and pickleball courts
• Walking trails
• Fitness centers
• Clubhouses
• Golf courses
• Shared office spaces
• Pools and splash zones  

5. Embrace Technology

Growing up inundated by technology, these generations also seek simplicity and convenience in their everyday lives. As a result, adopting digital platforms is no longer an option for HOAs, but a requirement. To attract and retain younger homebuyers, it’s vital for HOAs to leverage digital solutions that allow users to do the following online:

• Make payments
• Communicate
• Vote
• Attend meetings
• Reserve amenities
• Submit requests

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Attract Younger Homeowners with TownSq

As a management company, community manager, or board member, it’s important to understand millennials and Generation Z and adapt to ensure you provide the resources they want and deserve. As the top software for managed communities, TownSq can meet the needs of the younger generations and make leading and living in an HOA easier than ever. Click here to request a personalized demo and discover what TownSq can do for you.