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While still below long-term averages, vehicle ownership is increasing across apartment properties.

While an overwhelming share of Millennials enrolled in degree programs continue to live with their families, living off-campus in apartment building shares can provide a smoother path toward independent living.

Strong economic growth, rising interest rates, and exceptionally tight labor markets contributed to small balance lending volume reaching an annualized rate of $47.0 billion through the first half of 2018, down 5.8% from last year.

Small apartment properties play a crucial role in maintaining affordable rental options for the workforce segment across US metros.

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.

Workforce segment renters living in small apartment properties are adapting to the changing economy, while also representing a broad occupational base.¹

Rental demand from the workforce housing segment is on the rise, with a relatively higher concentration in single-family and small asset properties.

Metros showing higher than average housing cost shares of household income are also home to higher concentrations of severely cost-burdened households.

As we enter the later stages of the current economic cycle, a major topic of discussion among real estate players is how much longer will this trend of slow and steady growth continue. At the Mortgage Bankers Association’s CREF Market Intelligence Symposium 2018 in New York City, hosted by the New York University, Schack Institute of Real Estate, leading industry participants came together to discuss the state of the real estate market and where it’s likely to go, as well as the key factors impacting commercial real estate and the U.S. economy.

Here’s a quick look at how demographics are contributing to a surge in renting single-family homes.