Key strategies for development, including building for long-term holds and adapting to changing renter profiles, were discussed at the recent NMHC Apartment Strategies Outlook Conference in Orlando, FL.










Key strategies for development, including building for long-term holds and adapting to changing renter profiles, were discussed at the recent NMHC Apartment Strategies Outlook Conference in Orlando, FL.
Renter income growth In small multifamily properties was slightly above the national average, while large multifamily households saw market-leading gains.
Small multifamily rents have been growing faster in metro areas with rent levels below the national average. This phenomenon has, by and large, also been true for the large multifamily asset class.
Four major California cities were the most expensive areas in the nation for small multifamily rentals, reflecting the state’s ongoing affordability crisis.
Small multifamily rent growth is fueled by the asset class’ proximity to job centers, larger unit sizes and relative affordability to other rental property types.
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Small multifamily properties are growing the quickest as a share of rental inventory outside of the largest U.S. metro markets.