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Multifamily Housing Fast Facts*

State of the Industry

Facts & Figures:

  • Renter Occupied Households make up 37% of the US total

  • There are 21 Million Rental Units (5 units +) : Highly Fragmented (NMHC)

  • Value-add investment (renovation and repositioning) continues to thrive

  • Multifamily remains favored asset class for institutional investment

  • Affordable housing is also become a favorite among institutional investors with ESG initiatives and political tailwinds.



  • Capital improvements specified by property owners/management 90% of the time**

  • Product specification in new construction is handled by developers 76% of the time**

  • Decisions are often made by teams: developer, owner, property management



  • Strong underlying demand - through 2030 multifamily we need to build 350k units per year to keep up.

  • Interest rate uncertainty is a major headwind and inventory coming online in 2024 will pressure occupancy & rents in the short-term.  The supply constraints we are seeing now will keep fundamentals strong over the longer term however.   


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