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2015 Experienced Continued Strong Growth For The Rental Apartment Market
July 13, 2016
Multifamily starts and completions both experienced growth in 2015 as for-rent starts totaled 372,000 units, a 13 percent increase from 2014, according to date from the U.S. Census Bureau.
Additionally, as NAHB’s Eye on Housing blog reports, completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units reached 259,000 in 2015, a total that is 23 percent higher than what was seen in 2014, according to information from the Survey of Market Absorption.
The for-sale multifamily market actually had fewer starts in 2015 compared to 2014 (26,000 compared to 27,000), but the completions and absorption rates of for-sale units increased.
For the full reports, follow the link below.
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