Rising Big-City Income Inequality Presents Challenges to Apartment Development via Property Management Insider

A growing movement to the urban core means new opportunities for the apartment industry, but recent data suggests that the pool of denizens who have the money to attract developers looking to jump into the market isn’t keeping pace.

A Brookings Institution study and data from the U.S. Census Bureau shows that in 2012 income inequality in big cities exceeded the national average. The reasons for the widening gap are not attributed everywhere to increased wealth among the already rich – in most cities the 95th-percentile incomes declined from 2007-12. But, the bottom line is that the big-city rich got richer and the big-city poor became poorer in the 50 largest cities.

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