The Southeast Region of the U.S. has continued to see strong rent growth, with nine of the 12 primary markets experiencing rent increases higher than the national average over the 12 months ending in Q2 2018. Vacancy rates across the region have skewed higher recently, driven by the addition of new supply in the markets.
Rental demand across the U.S. is on the rise, but the supply of apartments is not keeping pace, resulting in a housing shortage. Did you know that the U.S. needs 4.6 million more apartments by 2030 in order to keep up with demand? This new infographic from the National Multifamily Housing Council and National Apartment Association takes a look at the issue by the numbers:
A sizeable share of collegiate Millennials lives in off-campus rental accommodations, with apartment buildings dominating this segment.
Small apartment properties play a crucial role in maintaining affordable rental options for the workforce segment across US metros.
Small apartment buildings comprise the largest share of workforce housing demand within the top 20 metros, while single-family rentals dominate the next 30.
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Workforce rental housing demand has increased the most in the smaller metros where apartment properties, both small and large, are increasing their shares of this demand segment.
