Gen Z is surpassing millennials as the largest renter cohort dominating the multifamily market, which has comprised 42% of all CRE sales since the start of the pandemic, according to a new Cushman & Wakefield and Greystone report. 

The sector has been favored by strong supply-demand fundamentals, as US household formation hit 1.3 million in 2021 and is projected to hit a peak of 1.5 million in 2023. The report analysts note that the rental sector could absorb a “higher than usual share” of that new demand due to low inventory and home affordability challenges. Low vacancy and solid rent growth are predicted in the near term, especially in the Sun Belt. 

 

GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.