WASHINGTON, DC–We can scrap the talk of the apartment marketbecoming over-saturated — at least in the long term. A new reporthas determined that the US will need to build more than 4.6 millionnew apartment homes across a range of price points by 2030. This isaccording to research from Hoyt Advisory Services,which was commissioned by the National Multifamily HousingCouncil and the National ApartmentAssociation.
As for the market becoming over-saturated in the immediate term,we can nix talk about that as well, per the report. It has foundthat currently nearly 39 million people live in apartments, and theapartment industry is quickly exceeding capacity.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
