Demand for Apartments Remains High
Separate studies performed by National Apartment Association and the National Multifamily Housing Council share the same conclusion that demand for rental apartments will stay at elevated levels largely due to continued robust household formation and limited affordable housing options. The report projects that based on current trends, an additional 4.6 million new apartments will be needed by 2030 to keep up with demand.
A study recently released by the Joint Center for Housing Studies at Harvard University, highlighted the increasing lack of affordable housing due to the limited stock of available single-family housing and rising apartment rents amid an extremely tight pipeline for both for-sale and rental housing.
