GITNUX MARKETDATA REPORT 2024

Must-Know Apartment Industry Statistics [Current Data]

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The apartment industry is an ever-growing and ever-changing industry. With the rise of the gig economy, more people are choosing to rent apartments over buying a home. With this shift in the housing market, it is important to stay up to date on the latest apartment industry statistics.

This article will provide an overview of the current state of the apartment industry, including the latest trends and statistics. We will also discuss how these statistics can help inform your decisions when it comes to renting or investing in an apartment.

Apartment Industry: Most Important Statistics

The apartment rental industry is currently sized at $176.8 billion, with 1.3% growth so far this year, and is expected to grow 3.5% annually.
Rental rates have increased significantly over the past decade, with the average asking rent now at $2,016 monthly, and 35% of households living in rental properties.
The European residential real estate market saw an unprecedented boom due to the coronavirus pandemic, with the most expensive countries to purchase a home being Austria, France, Germany, and the United Kingdom (UK).

Apartment Industry: Statistics Overview

The apartment rental industry is currently sized at $176.8 billion, with 1.3% growth so far this year, and is expected to grow 3.5% annually.

The industry is growing steadily, and that the number of businesses and employees in the industry is likely to increase in the upcoming years.

Rental rates have increased significantly over the past decade, with the average asking rent now at $2,016 monthly, and 35% of households living in rental properties.

Younger households are increasingly relying on renting as a more attainable goal than homeownership, and that many renters are spending more than 35% of their income on rent.

In 2021, the global hotel industry was worth $4.13 billion with a growth rate of 18.5%, and the U.S. has the largest number of hotels in the world, with California having the most.

This shows the potential for growth in the hospitality industry, which can lead to more demand for apartments as people travel more.

The U.S. Apartment Rental industry covers all companies, ranging from small businesses to market leaders, and provides information on revenue, employees, companies, and average firm size.

This provides a comprehensive overview of the industry, including the size of the market, the number of companies, and the average size of firms. This information can be used to inform decisions about investments, marketing strategies, and other business decisions.

The apartment and multifamily market is a strong investment opportunity in 2021. Knowing the current state of the apartment and multifamily market is essential for investors looking to expand their investments this year.

By understanding the current market trends and statistics, investors can make more informed decisions about where to invest, how to invest, and if they should invest at all.

Apartments comprise a major share of the U.S. housing market, especially in American cities, but have seen a tumultuous few years.

This highlights the importance of understanding the current state of the apartment industry, as it is a major part of the U.S. housing market.

It also shows that the apartment industry has been affected by recent economic and housing market changes, and understanding the current trends and statistics can help inform decisions about investing in or renting apartments.

The European residential real estate market saw an unprecedented boom due to the coronavirus pandemic, with the most expensive countries to purchase a home being Austria, France, Germany, and the United Kingdom (UK).

This shows the current state of the European residential real estate market and how it has been affected by the pandemic. It also provides insight into the most expensive countries to purchase a home, which can be used to inform future investment decisions.

11 out of 14 Member States experienced a decrease in housing transactions in the third quarter of 2022 when compared to the same quarter of 2021.

This is the current state of the housing market in the EU and the impact of the pandemic on housing transactions.

This information can be used to inform decisions about investments in the apartment industry and to help predict future trends in the housing market.

House prices have grown more than 40% faster than rental growth since 2015, making renting a more affordable option.

This highlights the importance of rental housing in the current market. It also shows that, despite the traditional American Dream of owning a single-family home, renting is becoming increasingly popular and more affordable.

This trend is likely to continue, which could have a major impact on the apartment industry.

Renting is becoming increasingly popular among younger households, with the average asking rent being $2,016 monthly and the number of renters increasing by 23 million between 2006 and 2016.

Renting is becoming a more popular option for younger households, and that the demand for rental properties is increasing.

This means that the Apartment Industry can expect to see an increase in rental rates and occupancy rates in the future.

Innovative co-working spaces and advances in smart technology will be trends to watch for in 2022, which will affect the apartment industry.

Housing providers are adapting to the changing lifestyles of their residents, which will likely result in changes in the industry.

This could mean more demand for certain types of housing, or changes in the way apartments are managed.

The real estate industry is cautiously optimistic about the long-term prospects of real estate assets despite current headwinds.

Despite current economic conditions, the real estate industry is confident in the long-term prospects of the industry and is taking a proactive approach to ensure continued growth and strong returns.

NMHC’s Quick Facts resource provides comprehensive information about resident demographics, construction stats, market conditions, key sector performance metrics, investment returns and more for the Apartment Industry.

This information matters because it provides a comprehensive overview of the Apartment Industry and can be used to make informed decisions about investments, marketing strategies, and more.

CMHC’s 2022 Rental Market Survey provides comprehensive data tables for 17 Canadian centres, including results from the Condominium Apartment Survey, which covers condominium apartments offered for rent on the secondary rental market.

The data can be used to understand trends in rental markets, such as rental prices, vacancy rates, and the availability of condominium apartments for rent.

This information can be used to inform policy decisions and help landlords and tenants make informed decisions about their rental markets.

In 2021, the total revenue of the apartment rental industry in the United States was approximately $193 billion.

The industry is a major contributor to the US economy, and that it is an important source of income for many people. It also serves as a reminder of the importance of the industry in providing housing for millions of Americans.

As of 2021, there were around 607,993 Apartment Rental businesses in the United States.

This speaks to the sheer number of businesses that are involved in the rental market, and the potential for growth in the sector. It also highlights the importance of the apartment rental industry to the US economy, and the potential for further investment in the sector.

The occupancy rate for multifamily properties in the United States increased from 95.0% in June 2021 to 95.3% in July 2021.

The increase in occupancy rate from 95.0% to 95.3% in just one month is a sign that the industry is continuing to grow and thrive. This is a positive sign for the industry and shows that the demand for multifamily properties is still strong.

In 2020, around 284 million square meters of multifamily residential construction were started in the United States.

The demand for multifamily residential construction is high, and that the industry is thriving. This is great news for those involved in the apartment industry, as it means that there is a steady stream of business and potential for growth. It also indicates that the US housing market is healthy and that people are investing in apartments as a viable option for their housing needs.

As of 2020, the average rental price nationwide for an apartment in the United States is $1,099.

This provides insight into the average cost of renting an apartment, which can be used to compare rental prices across different regions and cities. Additionally, it can be used to gauge the overall affordability of renting an apartment in the United States, which can be an important factor for potential renters.

In 2019, the total value of investments in the US multifamily sector reached $184 billion.

The apartment industry is a lucrative investment opportunity, with a total value of investments reaching an impressive $184 billion. This is a clear indication that the apartment industry is a thriving sector, and one that is likely to continue to grow in the future.

There were nearly 43 million renter households in the United States in 2020.

This speaks to the sheer number of people who are relying on rental housing to meet their needs, and it highlights the importance of the apartment industry in providing housing for millions of Americans. It also serves as a reminder of the need for continued investment in the apartment industry to ensure that it can continue to meet the needs of renters.

In 2020, the vacancy rate in U.S. apartment buildings was 6.2%.

The vacancy rate of 6.2% in 2020 is a telling statistic when it comes to the apartment industry. This is good news for landlords, as it suggests that their properties are in high demand and that they can expect to see a steady stream of tenants. On the other hand, it also means that renters may have to compete for available units, as the vacancy rate is relatively low.

As of 2019, the market share of institutional investment in the US apartment industry was 24%.

The speaks to the level of confidence that investors have in the industry, and the potential for growth and profitability. This statistic is indicative of the strength of the apartment industry, and its ability to attract and retain investors. It is a sign that the industry is a viable and attractive option for those looking to invest in real estate.

In 2019, there were more than 2.3 million apartment units started in buildings with five or more units.

The demand for multi-unit dwellings is on the rise, indicating that more and more people are choosing to live in apartments. This is an important trend to note, as it can provide insight into the current state of the housing market and the preferences of potential renters.

The average monthly cost of renting an apartment in New York City in 2020 was $4,336.

The cost of renting an apartment in the city is significantly higher than the national average, highlighting the need for more affordable housing options. Furthermore, it serves as a benchmark for other cities to compare their rental prices against, providing valuable insight into the apartment industry as a whole.

In 2017, the share of apartment buildings in the United States built before 1960 was 12.5%.

A significant portion of the apartment buildings in the country were constructed before 1960, which means that many of these buildings may be in need of repairs or upgrades. This could have a major impact on the industry, as it could lead to higher costs for landlords and tenants alike. Additionally, it could also lead to a decrease in the quality of living for those living in these older buildings.

As of Q3 2021, the average multifamily property sales price increased by 14.1% year-over-year in the United States.

The demand for multifamily properties is on the rise, as evidenced by the significant year-over-year increase in sales prices. This is an important indicator of the health of the apartment industry and provides valuable insight into the current market conditions.

In 2021, the largest share of renter households in the United States were in the $50,000 to $74,999 household income range.

The majority of renters in the United States are in the middle-income range, which suggests that the apartment industry is catering to a large segment of the population. This is important to note, as it indicates that the apartment industry is providing housing for a wide range of people, from those with lower incomes to those with higher incomes. This statistic also highlights the need for affordable housing options, as many renters may not be able to afford more expensive apartments.

In 2020, multifamily properties represented 59% of all rental stock in the United States.

Multifamily properties are the dominant form of rental stock in the country, making up the majority of the market. This is significant for anyone interested in the apartment industry, as it provides insight into the current trends and dynamics of the sector.

In 2019, the majority of multifamily housing construction in the United States was concentrated in the southern region.

The southern region is a major player in the industry, and that it is likely to remain so in the future. This is important information for anyone interested in the apartment industry, as it can help them make informed decisions about where to invest or locate their business.

Nearly 43% of households that rent apartments in the United States are single-person households.

A significant portion of the rental market is made up of single-person households, which could have implications for the industry in terms of pricing, amenities, and other factors.

Conclusion

In conclusion, the apartment industry is a dynamic and ever-changing sector of the real estate market. With the right data and insights, investors and developers can make informed decisions about their investments and operations.

The apartment industry is a key component of the economy and its growth is essential for the overall health of the housing market. With the right information and analysis, investors and developers can stay ahead of the curve and make the most of their investments.

References

1 – https://www.statista.com/topics/7232/hotel-industry-in-china/

2 – https://www.statista.com/topics/7746/hotel-industry-in-spain/

3 – https://www.multifamily.loans/apartment-finance-blog/2019-apartment-industry-statistics-what-you-need-to-know

4 – https://ipropertymanagement.com/research/renting-statistics

5 – https://www.getonedesk.com/blog/hotel-industry-statistics

6 – https://servicedapartmentnews.com/reports/the-global-serviced-apartments-industry-report-2020-2021/

7 – https://www.anythingresearch.com/industry/Apartment-Rental.htm

8 – https://www.multifamily.loans/apartment-finance-blog/2019-apartment-industry-statistics-what-you-need-to-know/

9 – https://getflex.com/blog/apartment-statistics/

10 – https://www.statista.com/topics/3813/the-housing-market-in-europe/

11 – https://ec.europa.eu/eurostat/statistics-explained/index.php?title=House_sales_statistics

12 – https://www.statista.com/topics/4465/rental-market-in-the-us/

13 – https://ipropertymanagement.com/research/renting-statistics

14 – https://www.washingtonpost.com/business/2022/01/10/apartment-trends-watch-2022/

15 – https://www.pwc.com/us/en/industries/financial-services/asset-wealth-management/real-estate/emerging-trends-in-real-estate.html

16 – https://www.nmhc.org/research-insight/quick-facts-figures/

17 – https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/housing-data/data-tables/rental-market/rental-market-report-data-tables

18 – https://www.census.gov

19 – https://www.statista.com

20 – https://www.bisnow.com

21 – https://www2.deloitte.com

22 – https://fred.stlouisfed.org

23 – https://www.nmhc.org

24 – https://www.realpage.com

25 – https://www.ibisworld.com

FAQs

What is the average rent for an apartment?

The average rent for an apartment varies significantly depending on location and size, but typically ranges from $800 to $1,500 per month.

What amenities are typically included in an apartment?

Amenities typically included in an apartment include a kitchen, bathroom, living area, and bedroom. Some apartments may also include additional amenities such as a balcony, pool, or fitness center.

What is the typical lease length for an apartment?

The typical lease length for an apartment is 12 months, although some leases may be shorter or longer.

How often do apartment rents increase?

Apartment rents typically increase once a year, usually at the end of the lease term.

What is the typical security deposit for an apartment?

The typical security deposit for an apartment is equal to one month's rent.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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