According to a report by the Multifamily Research Group of Freddie Mac, landlords can expect steady, slow economic growth with an additional 1.7 million new multifamily renter households between now and 2015.
In addition, the paper forecasts that the multifamily market and demand for rental housing will remain solid and healthy during the same period of time.
The forecast analyzes demographic trends, housing supply and economic data. The scenario-based approach explores rental market conditions under different economic environments: slow growth, no growth and accelerated growth.
Forecast Highlights
Recent declines in homeownership related to economic stress and high foreclosures in the single-family housing market have benefited the multifamily market.
The homeownership rate will drop 1 to 2 percentage points if the current slow recovery continues.
The single-family rental market, a growing and distinct market from multifamily, has expanded 16 percent (about 3 million units) since 2007.
Multifamily market demand is expected to be strong through 2015 primarily due to demographic trends and a decreasing national homeownership rate.
via Experts Predict 1.7 Million New Renters | American Apartment Owners Association.
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