What Are Psychographics In Multifamily Marketing?

In today’s apartment market, just having a flashy gym or a "resort-style" pool won’t cut it anymore. Prospective residents are looking for more—way more. People don’t want just a place to live. They want an experience. And if you’re serious about leasing fast and keeping residents happy, you’ve got to tap into that demand.

Think about it: We’re dealing with residents from five different generations, all with unique expectations. They’ve got options, and they know it. 

So, how do you stand out when every building down the street also has a rooftop deck and a "state-of-the-art" fitness center? The answer isn’t in the physical amenities; it’s in the experiences you offer and how you position them. 

And that’s where psychographics come in.

What the Heck Are Psychographics?

You’ve probably heard of demographics—you know, the usual stuff like age, income, and family size. That’s the basic data. But demographics only tell you who your residents are. Plus with fair housing compliance top of mind, you really can only do so much with demographic information. 

Enter: psychographics, the magical data telling you why renters make consumer decisions—what drives them, what they care about, and what kind of lifestyle they’re after.

Here’s the deal: People don’t lease a luxury apartment just for the granite countertops or the proximity to their office. They’re making a lifestyle choice. They want to feel like their home aligns with who they are and who they want to become. A sense of belonging. What does it mean to you to live in a certain place? Psychographics help you figure that out.

Let’s say your building attracts young professionals. That could mean so many things! Seriously, the "young professional" audience is about as vague as it gets. Let's dig deeper! 

Sure, they might care about a fast commute, but what they really want is a place that reflects their ambition and helps them feel successful. That’s where aspirational marketing comes into play—you’re not just selling square footage, you’re selling them the life they’ve always envisioned.

Gathering the Right Data

So, how do you get these psychographic insights? You’ve got options. The simplest way is to talk to people—actual conversations with your neighborhood residents. A quick five-question interview can tell you more about their values and lifestyle than a hundred generic surveys. And don’t forget about the power of social media. 

The data’s already out there; you just need to dive in. Your community’s website analytics and social media interactions are treasure troves of psychographic information waiting to be uncovered. Take a look at the neighborhood you're developing, and jump over to "tagged posts". What generalizations can you make about the lifestyle? 

Surveys, social media, website traffic, focus groups—it all feeds into understanding your residents beyond just the numbers. That’s how you go from being a commodity to being *the* place people want to live.

Applying Psychographics to Your Property Marketing

Now, here’s where the magic happens. 

Once you’ve got that data, you can use it to market smarter. Forget the typical ad about stainless steel appliances. Instead, craft your message around the lifestyle you’re offering. Are you marketing to fitness enthusiasts? Showcase how your space and amenities complement their health goals. 

Maybe it’s the peace and quiet waterfront property ideal for remote work, or the sense of community through on-site events like food trucks and pop-up farmers’ markets. You’re creating a vision of what life will be like when they live in your building.

Personalized messaging is another game-changer. People want to feel seen, not spammed. Email subject lines with personalized touches can increase open rates by 50%. But—and this is a big but—your emails have to be mobile-friendly. 

You’d be surprised how many operators are missing the mark here. If your emails aren’t optimized for mobile, you’re leaving money on the table. And if you're hungry for more on this topic, don't worry. I'm working on a teardown of generic property email tactics as we speak. But that's another blog for another day!

Building Loyalty Through Experience

Once you’ve attracted your eager residents, keeping them is all about maintaining that connection. This is where psychographics can really pay off. You need to keep evolving with your residents, offering experiences and events that resonate with their values and lifestyles. Think about offering experiences like charity events, wine tastings with a sommelier, or wellness workshops—things that add to the lifestyle they want to lead.

By continually tapping into what matters to your residents, you’re building loyalty. Loyalty means lower turnover and fewer vacant units. At the end of the day, it’s not just about *filling* apartments—it’s about creating a place where people want to stay.

It’s Time to Think Bigger

Let me leave you with this: If you’re still just selling the gym, the pool, or the location, you’re already behind. Worse- you're blending in. And who wants to put up a multi-million dollar project to blend in with the rest? No one! 

If you're a loyal follower of Transforming Cities, you're bold. I can tell. You're a bar raiser in your market. And we're here to keep you informed so you can keep it going. The future of apartment living is all about the experience. People want more than a place to live—they want a place that fits their lifestyle and helps them reach their goals.

Start using psychographics to understand who your residents really are and what they want. Then, market to that. Create experiences that make them feel connected to your community, and you’ll not only lease faster, but you’ll also keep people renewing year after year.