This week’s multifamily roundup features insights on the nuances of today’s apartment renters, the trend of declining public transit use, and residents’ willingness to pay a premium for green features. First, RealPage provides an in-depth look at the nation’s apartment renter base, finding eight distinct types of U.S. renter households. Then, NREI reports that demand for apartment units is again picking up as the number of new households is rising quickly. Arbor’s Chatter blog analyzes renter data to reveal a broader national decline in public transit use as commuter preferences change. Next, Scotsman Guide analyzes the impact of wage growth, an often overlooked variable, on apartment rents. Finally, Multifamily Executive reveals why most residents are willing to pay more for sustainability and health-related features.
Who are Today’s Apartment Renters?
RealPage – October 8, 2018
“In discussions about the nation’s apartment market, renters often get lumped into one large group. But the reality is far more nuanced.”
Apartment Rent Growth Accelerates in the Third Quarter of 2018
NREI – October 9, 2018
“Demand for apartment units softened slightly in recent years, as developers built thousands of new apartments. Now, demand is growing quickly once again, as the number of new households rises quickly and helps fill new units.”
Renter Data Reflects Broader National Decline in Public Transportation Use
Arbor Chatter – October 8, 2018
“While public transportation usage is highest among apartment renters, recent data show a secular decline, keeping with the overall trend of changing commuter preferences and workplace environments.”
The Impact of Wage Growth on Apartment Rents Merits Examination
Scotsman Guide – October 5, 2018
“Rent growth should be tied as much to wage growth as it is to employment growth, but is it?”
Most Residents Will Pay More for Green Features, Survey Finds
Multifamily Executive – October 9, 2018
“Eighty-three percent of apartment residents believe living in a green community is beneficial to their health, and 59% would pay more to live in a green or sustainable community.”