“Overall, we think that the demographic tailwind for rental apartments and continued urbanization is a longer-term trend that will make multifamily a good sector for a long time.” Source: PwC Emerging Trends in Real Estate, 2016
Steady economic growth and key drivers will keep the U.S. multifamily market moving forward in 2016.
Governmental policies and homeowner age impact multifamily living. Trends of employment growth, homeownership structure, Generation Y and population growth work to significantly increase demand. Larger than the Baby Boomer generation, Gen Y could increase the number of new renters in the U.S. by five million by 2030. Topping the national growth chart, Texas has welcomed 529,000 new inhabitants since 2010.