Connect Apartments 2016 on September 15, 2016 at JW Marriot Los Angeles LA Live

July 2, 2015 Comments Off on Apartment Occupancy Is Off the Charts Views: 393 Connect Classroom

Apartment Occupancy Is Off the Charts

Well, you can forget about that multifamily bubble that you might have been worried about.

The national occupancy rate was 95.3 percent in May, the highest on record, according to research firm Axiometrics. In addition, rents also grew five percent over the month. One of the things that is driving the rent growth is the fact that Millennials are finding good jobs and moving out of group housing.

Additionally, the home ownership rate, at 63.7 percent is the lowest in 25 years, according to the Urban Institute. Due to this, there needs to be a lot more multifamily construction to meet future demand, the organization argues.

Read More at CNBC

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , , ,

Comments are closed.