What happens to occupancy when Millennials decide they Do want to own homes?

We have no vacancies, new construction is not even a factor and demand from millennials is not going to disappear either.Ultimatly the market has to reach an equillibirum between supply and demand, which can only happen with additional units, so new construction of affordable homes (not luxury) needs to ramp up and that will take years to do.I agree with your conclusion on SF that need cosmetic work, the market disregards the condition and pays more than it should, better to leverage the low interest rates and buy something that does not need remodel cash after purchase!

Feel free to reach out if you have any questions.https://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushhttps://www.biggerpockets.com/forums/621/topics/444774-sacramento-neighborhood-map-and-ratings----finallyBest of luck!

Demography is definitely one of main factors, so we are talking about two main demographics for apartment complex : Millennials and baby-boomers.According to the research,Millennials,young professionals, given their financial profile and lifestyle preference, will prefer small units in walkable urban neighborhood.

My tenants are primarily millennials, most of which have Venmo already.   

The millennials, boomers and immigrants are renting more and that is expected to continue.  

Sounds great, Im looking to do the same thing i think the city is a gold mine for all of the millennial looking for a cheaper version of dc.

A few reasons:new constructions is half of what it was at its peak in the mid 1990's creating a scarce of inventorycentral Ohio economy is booming (you can pick up the Dispatch and read about it on a daily basis)central Ohio population set to increase by 1 million by 2050 (already largest city in Ohio, and 14th largest in nation)Columbus #3 city in country for percentage of population in millennial age groupColumbus #1 fastest growing city for millennial population age groupIn short, economy is strong, and homes like the ones you own aren't being constructed at a rate to even put a dent in demand.It's a good time to own property here and to acquire it!

I agree with most of this, but I don't think millennials will move to the burbs at the same rate as previous generations have.  

From HousingWire today...Goldman Sachs just nailed millennial homebuyingPublishes animated graph day before housing conferenceJacob GaffneyMarch 4, 2015 Wow.