Renter households increased from 34.1 percent in 2009 to 35.4 percent in 2011 according to a recent report released by the U.S. Census Bureau. A consistent pattern may be observed countrywide, with nearly a quarter of the metro areas seeing a rise in renting households, while less than 3.0 percent of the nation’s metro areas saw a decline.
Continued urban population growth combined with a healthy job market and a change in occupant mindset has sparked the creation of a vigorous multifamily sector which has now become the engine behind the recovery of the real estate industry. The desire to retain mobility to pursue employment opportunities as well as a preference for urban lifestyles among many households is expected to support strong operations in the apartment market throughout 2013.
Read more...Multifamily Growth | The Balance Sheet - Yardi Corporate Blog
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