Over the course of the decade, the multifamily real estate market emerged as a premier asset class. Demand was driven not only by the shifting demographics, but also housing affordability issues surrounding escalating prices, limited supply and stagnant wage growth. See our breakdown of the decade’s top-performing multifamily markets.

While many early technology solutions have been operationally focused, advanced technology like artificial intelligence and data analytics tools now allow owners to focus their efforts on improving the customer experience, panelists noted at the recent NMHC Annual Meeting 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.