This may be better suited for a trendy millennial focused apartment complex than my mother in law unit though.http://www.taynr.com/I'll keep reporting back as I learn more. 

Millennials are tapping home equity for vacations and emergency cashhttp://www.marketwatch.com/story/millennials-are-tapping-home-equity-for-vacations-and-emergency-cash-2016-08-24

I guess the millennials are starting to leave their parents' home but still can not afford a house so they end up in apartments :-) The market cap rates for B/C apartments are about consistent with  your findings.

The millennial generation was defined as someone who was born between the years 1979 to 1993.Best U.S. markets for buying and selling single-family rentals in 2017

Millennials overtake Baby Boomers as America’s largest generationEspecially now when the market supply is limited.

The dreaded word: Millennials, will eventually have kids and go to live places where there money goes a bit farther.

@Jalen Henningsen I personally like the marketplaces that haven't just been flooded with millennials for the sake of jobs and affordable housing.

We also have a huge millennial pool of buyers 33 and over coming into their buying years too.

Now you see millennials jogging, riding their bikes, and walking their dogs.

For example, millennial's might prefer a mixed-use development in a city whose IT/Finance sector is emerging vs a tenant profile of baby boomers in a retirement sunbelt area.