The American Millennial generation has reached a new stage of life. In their 30s, they are more settled in their careers and increasingly interested in purchasing real estate and quality home furnishings. According to the National Association of Realtors, Millennials accounted for 35% of all home purchases last year, making them the largest group of homebuyers in the country. While some Millennials opt for “starter homes” in suburban areas, many young professionals prefer to live and work in large cities and urban centers where downtown real estate is in high demand, often leading to smaller living spaces.
Whether they are buying or renting, one thing remains constant: urban-dwelling Millennials prioritize style even in smaller living spaces. Research by Furniture Today indicates that 77% of Millennials have redecorated their homes in the past two years, surpassing other age groups in home improvement efforts. Here’s a glimpse into the trends shaping urban Millennial homes and tips for maximizing small space design:
Sizing Things Down
Given the limited space available, Millennials seek to maximize every square foot efficiently. They prefer intelligently engineered furniture with innovative features that maintain style while occupying a smaller footprint. Space-saving furniture solutions are highly sought after in urban dwellings.
Home-tainment Essentials
A survey by the wine app Vivino found that 47% of Millennials prefer drinking and entertaining at home rather than at social gatherings, bars, or wineries. Home bar cabinets have become popular additions, allowing Millennials to keep the good times flowing in their own living spaces.
Double Duty
In small urban spaces, furniture that serves multiple functions is highly valued. Millennials view items like coffee tables not only as surfaces for drinks but also as eating areas and workstations. Furniture pieces that offer versatility and practicality are essential for urban living.
Shelving
Shelving is a versatile solution for creating unique room layouts and storage options in any space, from dividing rooms in downtown lofts to designing custom storage solutions that fit specific needs perfectly. Shelving units help maximize vertical space and organize belongings efficiently in compact urban settings.
In summary, urban-dwelling Millennials are prioritizing style and functionality in their home furnishings, despite the challenges of limited space. With innovative furniture designs and creative storage solutions, Millennials are making the most of their small living spaces while expressing their personal style preferences.
