Shift to Cities Bodes Well for MF, Other Industries

SANTA MONICA, CA-As reverse migration from suburbs back into cities continues, it stands to reason that the multifamily construction sector will reap the benefits. However, a report from IBISWorld, based here, says that it’s not only rental and condominium apartment builders that will gain from the urbanization trend over the next five years.

“As the US economy picks up during the next five years, both the rate of urbanization across the country and the per capita income of urban residents are expected to accelerate,” according to the IBISWorld report, titled “Moving on up: Top industries to benefit from urbanization.” Along with apartment construction, these shifts will lead to growing demand for testing and educational support, single location full-service restaurants, apartment rental, street vendors and public transportation.