Photo via Flickr User Soupstance
The focus of city revitalization efforts and policy prescription as of late has increasingly been focused on young professionals— in order to cultivate creative talent and innovation. Cities and municipalities have funneled money into amenities generally associated to the needs of this population, hoping to attract and retain these young people. Though this is generally deemed a vital step in creating a vibrant, economically feasible city, the effect of the transient nature of this group on the stability of the neighborhoods has historically been considered negative. The most common argument points out that homeowners have an incentive to invest in their community—primarily due to permanence and the overall neighborhood’s effect on property values.
Young renters are on the rise, partly due to green housing, sluggish wages, and a preference for mobility within the job market. There are also a noticeable number of new renters to the market because of housing losses in 2008. According to Business Insider Magazine, the number of renters has jumped 16 percent since 2004— to include about 106 million people in America. Communities that were once almost exclusively owner-occupied, single-family homes have seen the rise of multi-family residences. Business Insider explains that the number of multi-family housing permit units “soared to 61% between the first quarter of 2011 and the first quarter of 2012.”
The behavior, consumer patterns, and desires of the millienials have been under much scrutiny as of late. The Atlantic Cities found that large amounts of student debt, the recent re-evaluation of the home as a permanent asset, and tighter lending standards have directly contributed to a paradigm shift in the choice of homeownership. As CEOs for Cities discusses in our report, The Young and Restless in a Knowledge Economy, this population is the most mobile—showing the aversion to committing to a particular area. The report explains, however, that as these people age they tend to sink their roots, potentially becoming the homeowners that anchor and provide stability to communities.
Cities have always held the need to strike a balance between the unique needs of renters and homeowners. It is important, then, to understand what we can do to increase the stability of communities as the number of owner-occupied housing decreases. Inviting renters to attend block meetings and contribute to the success of a neighborhood is a win-win for everyone. Renters benefit from a network of concerned neighbors, and are more likely to stay in a community they feel is connected and striving for the same goals. Homeowners benefit from working with their more transient neighbors to make the community a better place. Getting younger community members (and more community members in general) involved in the conversation will necessitate using different methods for reaching out to individuals—which could include internet-based platforms as well as more interactive in-person strategies. Attracting renters into the conversation about the communal future of a neighborhood is essential to tethering people to a community.
Offering neighborhood amenities that increase neighbor interaction is a way to enhance the relationship between a resident and the community at large, kickstarting some of these important relationships and the ability to co-own and co-create the future of the area.
Shared Possessions
Tools, yard equipment, and other functional equipment are things that many in the neighborhood need to use. Encouraging (or enabling) neighbors to mutually use and respect community belongings will facilitate the connectivity of residents. Also sharing of tools and lawn equipment enable to renter to maintain some of the upkeep on a house and yard—which can be a great asset in scenarios of absentee landlords.
Shared Physical Assets
Breaking down community isolation and encourage interaction is a concept that planners should be striving for, but in many cases has not be instituted historically over the course of the last few decades. Providing larger-scale community assets such as community centers, recreation centers, parks, community gardens, or even living space can all increase the likelihood of interaction and in many cases an increase in property values throughout the neighborhood.
Shared experiences
Community programming is a great way to strengthen identity, as well as get new residents involved. Having welcoming committees for new residents is a great way to initiate connections and familiarize new people with the neighborhood. Community walks, neighborhood clean-ups, potlucks, church raffles, poetry/art based events, and annual meetings all contribute to the strength of the community and the organization of the block club by providing a relaxed environment where residents can give feedback to the structured organization and meet other neighbors.
It is healthy for communities to have a diverse set of residents—and the mix of renters and homeowners will become increasingly more successful as we find new ways to bridge the needs of these two groups and make our neighborhoods places that everyone would want to invest in.
Written by Maria Agosto