An estimated 31.2 million households, or 28% of total U.S. households, fell within the workforce segment by year-end 2018. Forty percent of workforce households, or around 12.4 million, are renters.

Year-end 2019 estimates for small multifamily lending volume reached $59.2 billion, beating the prior quarter’s forecast by $1.4 billion and marking the highest level of activity in Chandan Economic’s post-crisis model estimates. Download the Q4 report for key insights on the small multifamily market.

The U.S. multifamily market posted strong results to end 2019, with the fourth quarter seeing 3.7% year-over-year rent growth.

The JCHS 2020 report underscores the national affordable housing crisis. It points to growing numbers of renters with high incomes as well as those who are cost-burdened.

Small multifamily promotes greater accessibility to housing for workforce households than large multifamily. About 62% of all small multifamily households made less than $50,000 annually.

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.