Long-Term Outlook for Rental Apartments Remains Positive

August 29, 2017

Long-Term Outlook for Rental Apartments Remains Positive

August 24, 2017 | Bendix Anderson | National Real Estate Investor

Many of the markets where developers have been doubling down on building new apartment units are likely to have enough renters to fill those apartments over the next decade or so, according to the latest research commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA).

“The analysis suggests that 15 or so metros will lead the way on activity, and they are basically the same 15 or so spots that have accounted for about half of both demand and supply in the current economic cycle to date,” says Greg Willett, chief economist with real estate data firm RealPage Inc., which has reached similar conclusions to NHMC/NAA.

As the percentage of vacant apartments creeps upwards towards 5 percent on average across the country, many industry experts worry about overbuilding and potentially falling rents. But the overall demand for apartments is likely to solve many problems, including propping up occupancy rates even in some of the busiest markets for new construction.

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James Darren Roberson
August 22, 2017 at The National, the annual NPH Educational Conference
August 28, 2017

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