Chris Nebenzahl

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DENVER—With expanding populations, a growing preference forrenting and the majority of new jobs in the economy low-paying thusmaking homeownership challenging, the multifamily industryforecasts upwards of one million new renter households a year.

As a result, most multifamily experts believe the sector willflourish and prosper well into the 2020s. For example, according tothe National Multifamily Housing Council and the National ApartmentAssociation, in order to meet structural demand, apartmentdevelopers would need to complete approximately 325,000 new unitsannually between 2017 and 2030.

"Overall, the demand for multifamily housing remains strong andis really stable," says Chris Nebenzahl, institutional researchmanager of Yardi Matrix. "There is an increase in rental rates,occupancy levels are stable and there are substantive conversationsabout affordable housing."

Increase in Rental Rates

Rental rates have been steadily increasing and continuingdelivery of units are at a solid pace with a rental growth ofapproximately 3.5%.