Ivan Kaufman’s Real Estate Blog
This week’s multifamily roundup features insights on the growth of renting throughout the U.S., the workforce housing rental segment and the demographic shift taking place as baby boomers enter their golden years. First, MarketWatch examines the uptick in renting due to a variety of factors including young adults delaying marriage and starting families, and a strong preference for living in urban cores. Then, Trulia provides a visual interpretation of age distributions in the U.S. by county. Arbor’s Chatter blog explores the size and growth of the workforce housing segment across rental asset classes by categorizing households against the median income of their local economies. Next, CityLab explains the correlation that exists between age, income and homeownership. Finally, Multifamily Executive states that fundamentals, demand and economic growth remain strong according to Yardi, leading to the anticipation of steady growth in the apartment sector.
MarketWatch – August 8, 2018
“While the homeownership rate has notably begun to pick up, other factors including rising prices are expected to cause many households to continue to choose renting over homeownership.”
Trulia – August 8, 2018
“Call it the greying of America. As baby boomers enter their golden years, a great demographic shift is taking place. Across the nation, the median age is creeping up. Yet this aging is not consistent from one place to the next.”
Arbor Chatter – August 7, 2018
“Rental demand from the workforce housing segment is on the rise, with a relatively higher concentration in single-family and small asset properties.”
CityLab – August 8, 2018
“The populations of homeowners and renters aren’t flat across the U.S. There’s one major group of Americans who are more likely to rent than own: people in their 20s.”
Multifamily Executive – August 7, 2018
“Secondary markets with strong late-cycle economic performance led the nation in rent growth. Orlando’s YOY rent growth is strongest at 6.9%, followed by Las Vegas at 5.8%, the Inland Empire at 5.5%, and Phoenix at 4.9%.”
Ivan Kaufman, Chairman, President & CEO of Arbor Realty Trust, previously discussed the role of Millennials and its impact on the rental market throughout Arbor’s ongoing webinars and One-on-One video series with Chandan Economics Founder Sam Chandan. To provide an updated multifamily outlook, Sam Chandan recently visited the Arbor office and examined the growing trend among aging Millennials of leaving the urban core in search of more space and better school systems in suburban and transit-oriented areas. For more on why this is a trend to watch, check out the video above. Be sure to follow Ivan Kaufman on Twitter and Instagram for more information on Arbor.
The Arbor team completed research on the fastest growing multifamily markets for small properties. Find out more information in the infographic below.